Discussion
What is the full form of "UIC"?
Answer: A
Correct answer: Unique Identification Code
A unique identification code is an identifier assigned so that an entity or transaction can be referred to without ambiguity anywhere in a system.
Codes of this kind underpin most financial infrastructure, precisely because names are neither unique nor stable: IFSC identifies a bank branch, SWIFT BIC a financial institution internationally, and ISIN a security. Reconciliation across systems depends on such an identifier being assigned once and never reused, which is what "unique" is doing in the phrase.
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