Current Affairs - Banking - Discussion
Discussion Forum : Banking - Latest Current Affairs (Q.No. 106)
106.
By which month of the year has RBI instructed banks to end reliance on LIBOR and adopt an alternative reference rate?
Answer: Option
Explanation:
The Reserve Bank of India (RBI) has instructed financial institutions and banks to adopt an Alternative Reference Rate, primarily the Secured Overnight Financing Rate (SOFR), and end their reliance on the scandal-shrouded London Interbank Offered Rate (LIBOR) and Mumbai Interbank Forward Outright Rate (MIFOR) by July 1.
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