Questions

The bank rateis the rate of interest at which banks takelong term loansfrom Reserve Bank of India (RBI) by putting no collateral security. It is the rate at which RBI rediscounts the bills of exchange and government securities held by the commercial banks. For controlling the credit, inflation and money supply, RBI increases the bank rate.

•SWIFT was founded in the 1970s, based on the ambitious and innovative vision of creating a global financial messaging service, and a common language for international financial messaging.

•The Uruguay Round was the 8th round of multilateral trade negotiations (MTN) conducted within the framework of the General Agreement on Tariffs and Trade (GATT), spanning from 1986 to 1994 and embracing 123 countries as "contracting parties".

•The World Trade Organization (WTO) is an intergovernmental organization that regulates international trade. The WTO officially commenced on 1 January 1995 under the Marrakesh Agreement.

•Founded by the National Association of Securities Dealers, the NASDAQ began trading on February 8, 1971, as the world's first electronic stock market.