Question
What is the primary purpose of the Indian Financial
System Code (IFSC code) issued to International Banking Units (IBUs) as per the March 2024 IFSCA circular?Solution
The IFSC codes mentioned in the circular are to be used exclusively for cross-border remittances to IBUs and must not be used for domestic payment systems like NEFT or RTGS.
More Banking System in India Questions
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640 1920 240 720 92 270
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...Find the wrong number in the given number series,
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