Exams › IBPS PO › General Awareness

In July 2021, the RBI issued an advisory to banks and other RBI-regulated entities emphasizing the need for preparedness for the transition away from LIBOR. What does the "I" stand for in LIBOR?

1. Initial
2. International
3. Inter
4. Important

Correct answer: Inter

Solution

LIBOR stands for London Interbank Offered Rate. The "I" in LIBOR is from "Interbank," so the correct option is Inter.

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