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    Question

    What is

    MIBOR?┬а
    A 1) Mobile Interface Banking Operations and Regulation Correct Answer Incorrect Answer
    B 2) Money Interface Banking Optimisation Ratio Correct Answer Incorrect Answer
    C 3) Mumbai Index for Banking Organisations and Repayment Correct Answer Incorrect Answer
    D 4) Mumbai Interbank Offer Rate Correct Answer Incorrect Answer
    E 5) None of these Correct Answer Incorrect Answer

    Solution

    MIBOR (Mumbai Interbank Offer Rate) is the rate at which banks borrow unsecured funds from one another in the interbank market. National Stock Exchange (NSE) launched the Mumbai Interbank Offer Rate (MIBOR) and Mumbai Interbank Bid Rate (MIBID) in June, 1998. The NSE developed a benchmark rate for the term money market, like the 14-day, 1-month and 3-month MIBOR. The same was later named as FIMMDA-NSE MIBID/MIBOR rate in due course. The rate is representative of 30 banks and primary dealers.

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