India’s Relations with the International Monetary Fund (IMF)
- India is among founders member of the International Monetary Fund. Each member nation of IMF has an alternate governor, the alternate governor for India is the Governor of Reserve Bank of India (RBI). There is also an Executive Director representative for India.
- India has 2.76% shareholding in IMF which is equivalent to a quota of Special Drawing Rights 13,114 Million. India is eighth largest quota holding nation in International Monetary Fund.
- India has completely repaid all the loans taken form the IMF in 2000, now India is a contributor to the IMF.
- India’s voting rights increased to 2.63 percent from the current 2.3 percent from the reforms.
International Monetary Fund (IMF)
International Monetary Fund (IMF) is an international financial institution established in 1944 with the primary goal of promoting global monetary cooperation, ensuring exchange rate stability, facilitating the balanced growth of international trade, and providing resources to help member countries facing balance of payments problems.
In this article, we will discuss the International Monetary Fund (IMF), the origin of the IMF, its controlling bodies, its objective, and its functions along with India’s relations with the IMF.
Table of Content
- What is the International Monetary Fund (IMF)?
- Formation of the International Monetary Fund (IMF)
- Organizational Structure of the International Monetary Fund (IMF)
- Objectives of the International Monetary Fund (IMF)
- Functions of the International Monetary Fund (IMF)
- India’s Relations with the International Monetary Fund (IMF)
- Global Inflation due to changes in Monetary Policy
- International Monetary Fund (IMF) UPSC
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