Which of the following statements about the SWIFT Code are correct?
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SWIFT Code is used mainly for domestic money transfers within a country.
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The SWIFT Code consists of 8 or 11 characters including bank, country, location, and branch codes.
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India, China, and Russia have collaborated to explore alternatives to the SWIFT system to ease trade with sanctioned countries.
1
Only 1 and 2
2
Only 1 and 3
3
Only 2 and 3
4
Only 3
5
Only 2