Global Finance — Set 4
Abbreviations · वैश्विक वित्त · Questions 31–40 of 40
What is the full form of the abbreviation SWIFT?
Correct Answer: D. Society for Worldwide Interbank Financial Telecommunication
SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication. It is a global provider of secure financial messaging services. It enables financial institutions worldwide to send and receive information about financial transactions in a secure and standardized manner.
What does the abbreviation NDB stand for in the context of BRICS?
Correct Answer: B. New Development Bank
NDB stands for the New Development Bank, established by the BRICS states (Brazil, Russia, India, China, and South Africa). Its purpose is to mobilize resources for infrastructure and sustainable development projects. It is headquartered in Shanghai, China.
What is the full form of the abbreviation FATF?
Correct Answer: A. Financial Action Task Force
FATF stands for the Financial Action Task Force, an intergovernmental organization that sets global standards for combating money laundering and terrorist financing. It was established in 1989 by the G7. It monitors countries to ensure they implement the FATF Recommendations effectively.
What does the abbreviation UNCTAD stand for?
Correct Answer: A. United Nations Conference on Trade and Development
UNCTAD is the United Nations Conference on Trade and Development. It is a permanent intergovernmental body established by the UN General Assembly in 1964. Its goal is to maximize the trade, investment, and development opportunities of developing countries.
What is the full form of the abbreviation AfDB?
Correct Answer: A. African Development Bank
AfDB stands for the African Development Bank, a multilateral development finance institution. It was founded in 1964 with the goal of fostering economic development and social progress in African countries. It is headquartered in Abidjan, Côte d'Ivoire.
What does the abbreviation EBRD represent?
Correct Answer: B. European Bank for Reconstruction and Development
EBRD stands for the European Bank for Reconstruction and Development. It was established in 1991 to help build a new, post-Cold War era in Central and Eastern Europe. It supports the transition to market-oriented economies and the promotion of private and entrepreneurial initiative.
What is the full form of the abbreviation AIIB?
Correct Answer: B. Asian Infrastructure Investment Bank
AIIB stands for the Asian Infrastructure Investment Bank, a multilateral development bank that focuses on infrastructure development in Asia. It began operations in January 2016. It aims to connect people, services, and markets through sustainable infrastructure.
What does the abbreviation OPEC stand for?
Correct Answer: D. Organization of the Petroleum Exporting Countries
OPEC is the Organization of the Petroleum Exporting Countries, an intergovernmental organization of 13 nations. Its objective is to coordinate and unify petroleum policies of its member countries. It was founded in 1960 in Baghdad by the first five members.
What is the full form of the abbreviation GATT?
Correct Answer: A. General Agreement on Tariffs and Trade
GATT stands for the General Agreement on Tariffs and Trade, a legal agreement between many countries. Its purpose was the substantial reduction of tariffs and other trade barriers. It was eventually replaced by the World Trade Organization (WTO) in 1995.
What does the abbreviation FEMA represent in the context of India's foreign exchange?
Correct Answer: B. Foreign Exchange Management Act
FEMA stands for the Foreign Exchange Management Act, an act of the Parliament of India that regulates foreign exchange. It replaced the Foreign Exchange Regulation Act (FERA) in 1999. It aims to facilitate external trade and payments and promote an orderly foreign exchange market.