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अनुच्छेद 99 के बारे में  खबरों में क्यों? संयुक्त राष्ट्र महासचिव ने अंतरराष्ट्रीय शांति और सुरक्षा के खतरों को संबोधित करने के लिए संयुक्त ...

SWIFT stands for the Society for Worldwide Interbank Financial Telecommunications

• The SWIFT is a global member-owned cooperative that is headquartered in Brussels, Belgium.

• It was founded in 1973 by a group of 239 banks from 15 countries which formed a co-operative utility to develop a secure electronic messaging service and common standards to facilitate cross-border payments.

SWIFT does not facilitate funds transfer: rather, it sends payment orders, which must be settled by
correspondent accounts that the institutions have with each other.

• The SWIFT is a secure financial message carrier — in other words, it transports messages from one bank
to its intended bank recipient.

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