Expected Questions on SWIFT and IFSC Codes

Hello and welcome to exampundit. Today we are sharing the most important Expected Questions on SWIFT and IFSC Codes. These will be important for Bank PO & Clerk exams.

The Expected Questions on SWIFT and IFSC Codes was requested by Sougata.

Expected Questions on SWIFT and IFSC Codes

  1. What does SWIFT stands for? – Society for Worldwide Interbank Financial Telecommunication
  2. Society for Worldwide Interbank Financial Telecommunication is headquartered in _______. – La Hulpe, Belgium
  3. The first message sent through SWIFT network was in the year? – 1977
  4. A SWIFT Code is also known as? – Business Identifier Codes
  5. What is a SWIFT network? – Interbank communication network for fund transfer
  6. A SWIFT code consists of ______. – 8 or 11 characters (sometimes 12)
  7. The first four letters of a SWIFT Code represents – Institution code or bank code.
  8. The 5 and 6 letters of a SWIFT Code represents – country code
  9. The last 3 letters or digits of a SWIFT Code represents – branch code, optional (‘XXX’ for primary office)
  10. Which of the following defines a standard format of Bank Identifier Codes or SWIFT Codes? – ISO 9362
  11. What is the difference between SWIFT Code and IFSC Code? – IFSC is used in intranational transaction and SWIFT in international.
  12. What does IFSC stand for? – Indian Financial System Code
  13. IFSC Codes are required for which of the following type of transactions? – NEFT & RTGS
  14. How many characters does an IFSC code have? – 11
  15. The first four alphabetic characters of an IFSC code represents? – Bank Name
  16. Which of the following character of an IFSC code is 0? – 5th
  17. Which of the following character of an IFSC code is reserved for future use? – 5th
  18. The last six characters of an IFSC code represents? – branch

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