SWIFT (Society for Worldwide Interbank Financial Telecommunication) was founded in 1973, and its messaging services became operational in 1977. Therefore, 1985 is incorrect for its inauguration or becoming operational.
Which one of the following events is not correctly matched with the year in which it happened?
Asked in UPSC CDS 1 2018 · Topic: Money & Banking (Financial Markets: Money Market and Capital Market (Components, Instruments, Role))
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Answer: A. Inauguration of the SWIFT system of electron‐ ic interbank fund transfers worldwide—1985
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