In which of the following year, Clearing Corporation of India Limited (CCIL) was set up?
(a) 2003
(b) 2001
(c) 1999
(d) 2005
(e) 2007
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The correct option is b
It was set up in April, 2001
It was set up in April, 2001
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The answer to this question is (b) 2001
The Clearing Corporation of India Ltd. (CCIL) was set up in April, 2001 to give ensured clearing and settlement capacities for exchanges in Money, G-Secs, Foreign Exchange and Derivative markets.
The presentation of ensured clearing and settlement prompted noteworthy change in the market proficiency, transparency, liquidity and hazard administration/estimation practices in these market alongside included advantages like lessened settlement and operational hazard, investment funds on settlement costs, and so on.
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