Question

Financial Benchmarks India Pvt. Ltd. (FBIL) has been floated by:

A Fixed Income Money Market and Derivative Association of India (FIMMDA) Correct Answer Incorrect Answer
B Foreign Exchange Dealers’ Association of India (FEDAI) Correct Answer Incorrect Answer
C Indian Banks Association (IBA) Correct Answer Incorrect Answer
D Jointly by FIMMDA and FEDAI Correct Answer Incorrect Answer
E Jointly by FIMMDA, FEDAI and IBA Correct Answer Incorrect Answer

Solution

An independent company named ‘Financial Benchmarks India Pvt. Ltd.(FBIL), jointly floated by the FIMMDA, the FEDAI and the IBA has since been incorporated. The FBIL will act as an independent benchmark administrator and gradually take over the benchmarks currently being disseminated by other agencies.

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