Current Affairs

GK MCQs Section
Q. Consider the following statements:
  1. MIBOR (Mumbai Interbank Offer Rate) was launched as the overnight money market rate by the Bombay Stock Exchange.
  2. MIBOR is used as a benchmark rate for Interest Rate Swaps, Forward Rate Agreements, Floating Rate Debentures and Term Deposits.
Which of the above statements is / are correct?
Answer: Only 2
Notes: Statement 1 is incorrect as MIBOR was introduced by the National Stock Exchange (NSE), not the Bombay Stock Exchange (BSE). Statement 2 is correct because MIBOR serves as the reference rate for various financial instruments including Interest Rate Swaps, Forward Rate Agreements, Floating Rate Debentures, and Term Deposits in India.
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📌 Question Number: 35 in 65: Money, Banking, and Finance in the above course in App.