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● Option 1 is correct: Transfer payments are the receipts which the residents of a country get for free without having to pay for any goods or services. They Include migrants’ transfers by way of remittances for family maintenance, repatriation of savings and transfer of financial and real resources linked to change in resident status of migrants. ● Option 2 is Incorrect: Transfers payments represent one-sided transactions, i.e., transactions that do not have any quid pro quo. Since payments have to be made for the imported material, it does not form the part of Transfer payments. ● Option 3 is correct: Official transfer receipts record grants, donations and other assistance received by the Government from bilateral and multilateral institutions. Similar transfers by Indian Government to other countries are recorded under official transfer payments.
_____________ is the process usually accelerated by the roll up merger.
Which of the following days is known as ‘GST Day’?
In which Bank/Banks one can deposit money in Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS) -
What is the main objective of KYC guidelines followed by Banks?
I- It helps prevent banks from using criminal networks.
II- KYC helps the ...
Reserve Bank of India has cancelled the license of Independence Co-operative Bank Ltd. It is based at ________________.
The share of net demand and time liabilities that banks must maintain in safe and liquid assets, such as, government securities, cash and gold with itse...
RBI recently imposed several restrictions on Indian Mercantile Cooperative Bank Ltd. including a cap of Rs 1 lakh on withdrawals. The Indian Mercantile ...
What is CIBIL score?
FEMA, 1999 replaced the Foreign Exchange Regulation Act (FERA) of _______________.
Which institution is the most important constituent of Indian money market?