Multiple choice

What is the Indian messaging standard developed to serve as a platform for intra-bank and inter-bank applications called?

  1. SWIFT

  2. IDBRT

  3. SFMS

  4. IIBF

  5. IBPS

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Structured financial messaging system (SFMS) are a secure messaging standard developed to serve as a platform for intra-bank and inter-bank applications. It is an Indian standard similar to SWIFT (Society for World-wide Interbank Financial Telecommunications) which is the international messaging system used for financial messaging globally.