Question

A SEBI-regulated entity performing cross-border transactions uses a BIC (Business Identifier Code), commonly known as a SWIFT Code. In an 8 or 11-character BIC, which characters specifically identify the location/city of the financial institution?

A The first 4 characters
B The 5th and 6th characters
C The 7th and 8th characters
D The last 3 characters
E The 3rd and 4th characters
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