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● Statement 1 is correct: Triffin Dilemma was associated with the fixed exchange rate system wherein IMF had fixed the exchange rate for every country with respect to the US dollar and this in turn was linked to gold prices. So, a country could print currency in accordance with the availability of gold in its reserves. However, this system was not effective as the supply of gold was fixed. Hence, the system of SDR was introduced as an alternative to this for the IMF. SDR or Special Drawing rights refers to the deposits made by a country in the IMF in accordance with the quota allocated to it. ● Statement 2 is incorrect: IMF offers a small rate of interest on the SDR deposited by the countries. These SDR deposits are given out to member countries as loans when they face any shortage or Balance of Payment crisis. ● Statement 3 is incorrect: SDRs are used by the IMF to extend loans to countries facing the Balance of Payment crisis. It is lent out as loans to the member countries on which the IMF charges interest. However, it can also be traded amongst the countries to solve the Balance of Payment crisis or to settle Balance of Payment transactions.
Which of the following statements about net tax receipts and corporate tax share is/are incorrect?
1. Personal income tax (PIT) receipts made up ...
According to a recent report by the World Gold Council India is at what place as a Gold recycling country?
What is the maximum number of self-regulatory organizations (SROs) that RBI will approve for the NBFC sector?
In the global market capitalization ranking, what is India's current position according to Bloomberg data as of Jan 2024?
Arjun Erigaisi won which chess tournament in 2024, enhancing his global ranking?
What is the term used to describe the process of building new housing, infrastructure, and services in previously undeveloped areas?
Consider the following statements in regards to Samvidhan Sadan:
I) It is the old parliament Building.
II) It was designed by British arch...
Which Indian player won a bronze medal in the 50m Rifle 3 Positions at the ISSF World Cup 2024?
FTSE Russell will include South Korea’s bonds in which global index starting November 2025?
Consider the following statements:
I. Recently Ahmedabad and Chennai have been featured the Time magazine’s list of World’s greatest ...