To Avail Buyer’s / Supplier’s Credit: E: firstname.lastname@example.org,M: +919825560186
What is SWIFT Code ?
SWIFT code (also known as ISO 9362,SWIFT-BIC,BIC code,SWIFT ID or SWIFT code) is a standard format of Business Identifier Codes approved by the International Organization for Standardization (ISO). It is a unique identification code for both financial and non-financial institutions. These codes are used when transferring money between banks,particularly for international wire transfers,and also for the exchange of other messages between banks.
SWIFT (Society for Worldwide Interbank Financial Telecommunication) does not facilitate funds transfer; rather,it sends payment orders,which must be settled by correspondent accounts that the institutions have with each other. Each financial institution,to exchange banking transactions,must have a banking relationship by either being a bank or affiliating itself with one (or more) so as to enjoy those particular business features.
The SWIFT code is of 8 or 11 characters,made up of:
For Example: HDFC IN BB AHM
- The first four characters represent the Bank code,for example HDFC (HDFC Bank)
- The next two characters represent the ISO Country code,for example IN (India)
- The next two characters are the Location code,for example BB (Mumbai)
- Optionally a three character branch code can be added at the end of the address. For example HDFCINBBCCAHM might be the Ahmedabad branch.These codes are primarily used for internal routing purposes within the bank,as the branches themselves do not have direct connection. Usage is often more common in some countries.
Where an 8-digit code is given,it may be assumed that it refers to the primary office.
Type of Swift Message
SWIFT messages are identified in a consistent manner. They all start with the literal “MT” which denotes Message Type. A 3-digit number then follows this. The first digit represents the Category. A category denotes messages grouped together because they all relate to particular financial instruments or services. The full list is as follows:
|MT2nn||Financial Institution Transfers|
|MT3nn||FX,Money Market & Derivatives|
|MT4nn||Collections and cash letters|
One Page Talent Management: Eliminating Complexity, Adding Value
Book (Harvard Business Review Press)
People who fuck over econ. Bailed out. Richer2009-09-02 05:51:12 by used_cranium
Wall Street Roller Coaster Means Big CEO PaydaysTwo Dozen Bank Execs See Compensation Jump $90M Through Stock Options
Getting investments on the cheap earlier this year is yielding big rewards for Wall Street's top brass: Thanks to the rebounding stock market, two credit card company chief executives have ... period.
IPS, a liberal think tank, found that Chenault and Fairbank were among two dozen executives at eight major financial institutions to see their 2009 stock options jump by a total of nearly $90 million.
"It's all pretty outrageous how they stand to turn the crisis into more windfalls," said Sarah Anderson, an executive pay analyst and one of the authors of the IPS study.
In Defense of Participatory Economics2002-01-02 14:40:16 by justyouraveragecitizen
In Defense of Participatory Economics
by Robin Hahnel, Professor of Economics
American University, Washington DC
In the shadow of the collapse of Communism, and very far from the public eye, a debate over what is a desirable economy has rekindled among a few who cannot convince themselves that human beings are not deserving and capable of better than capitalism. In the past de... industries the full social benefits of their innovation will be both realized and spread to all workers and consumers.
The faster the adjustments are made, the more efficient and equitable the outcome. On the other hand, the more rapid the adjustments, the less the 'material incentive' to innovate and the greater the incentive to 'ride for free' on the innovations of others. But a partici
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