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International Agencies and Trade

General Knowledge for Competitive Exams

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What are Grey List and Black List of the Financial Action Task Force?

Oct 5, 2019
The The Financial Action Task Force (FATF) is an independent inter-governmental body that develops and promotes policies to protect the Global Financial System from terror funding and Money Laundering activities. Those countries which don't support terror funding and money laundering are listed in the grey list and vice versa.

G-7 and G-20 Organisations: Functions and Members

Aug 26, 2019
G-7 refers to the group of 7 highly industrialized nations—France, Germany, Italy, the United Kingdom, Japan, the United States and Canada. These countries hold an annual meeting to foster consensus on global issues like economic growth and crisis management, global security, energy, and terrorism.

Financial Action Task Force (FATF): Meaning and Objectives

Aug 23, 2019
The Financial Action Task Force (FATF) sets standards and promote effective implementation of legal, regulatory and operational measures to combat money laundering,terror financing, human trafficking.

G-20 Summits: List of Summits and Members

Jun 27, 2019
The annual meeting of the G-20 Leaders is known as the G-20 summit. The G20 Summit is formally known as the “Summit on Financial Markets and the World Economy”. There are 20 members of the G-20 including India. Currently Osaka city of Japan is hosting the 14th G-20 summit.

International Monetary Fund (IMF): Objectives & Obligations

May 13, 2019
The International Monetary Fund (IMF) is the inter-governmental organisation established to stabilize the exchange rate in the international trade. It helps the member countries to improve their Balance of Payment (BOP) condition thorough the adequate liquidity in the international market, promote the growth of global monetary cooperation, secure financial stability, facilitate international trade. It is one of the Bretton woods twins, which came into existence in 1945, is governed by and accountable to the 189 countries that make up its near-global membership.

How does IMF give loan to its Members?

May 13, 2019
The International Reconstruction and Development Bank (IBRD) and The International Monetary Fund (IMF) and were established in July 1944 in the Conference of 44 countries held in Bretton Woods, New Hampshire, USA. India is the founding member of the IMF.

Balance of Payment (BOP):Definition and Components

Mar 30, 2019
Balance of Payment (BOP) of ac country can be defined as a systematic statement of all economic transactions of a country with the rest of the world during a specific period usually one year. The systematic accounting is done on the basis of double entry book keeping (both sides of transactions credit and debit are included). Economic transaction includes all such transactions that involve the transfer of title or ownership of goods and services, money and assets.

Convertibility of Currency in India

Mar 30, 2019
Prior to the First World War the whole world was having gold standard under which the currency in circulation was allowed to get converted either in gold or other currencies based on the gold standard. But after the failure of Bretton woods system in 1971 this system changed. Presently convertibility of money implies a system where a country’s currency becomes convertible in foreign exchange and vice versa. Since 1994, Indian rupee has been made fully convertible in current account transactions.

Features of FERA & FEMA in India

Mar 29, 2019
In the budget of 1997-98, the government had proposed to replace FERA-1973, by FEMA (Foreign Exchange management act). FEMA was proposed by the both house of the parliament in Dec. 1999. After the approval of president, FEMA 1999 has come into force w.e.f. June, 2000. Under the FEMA, provisions related to foreign exchange have been modified and liberalized so as to simplify foreign trade. Government hopes that the FEMA will make favourable development in the foreign money market.

What are the Objectives and Functions of World Bank?

Mar 29, 2019
The International Bank for Reconstruction and Development (IBRD) was created in 1944 to help Europe rebuild after World War II. Today, IBRD provides loans and other assistance primarily to middle income countries. IBRD is the original World Bank institution. It works closely with the rest of the World Bank Group (IBRD, IDA, IFC, MIGA) to help developing countries reduce poverty, promote economic growth, and build prosperity. IBRD is owned by the governments of its 188 member countries.

International Finance Corporation & MIGA

Mar 29, 2019
The World Bank Group (WBG) is a family of five international organizations that are the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), The International Finance Corporation (IFC), The Multilateral Investment Guarantee Agency (MIGA) and the International Centre for Settlement of Investment Disputes (ICSID). IFC was established in July 1956 that provides loans to private industries for developing nations without any government guarantee and also promotes the additional capital investment in these countries. MIGA came into existence on April 1988.

Asian Development Bank: Functions and Assistance to India

May 28, 2018
Asian Development Bank (ADB) was established on Dec.19, 1966. The aim of this bank was to accelerate economic and social development in Asia and pacific region. The bank started its functioning on January 1, 1967. Its head quarter is located at Manila, Philippines. Its chairmanship is always given to Japanese and 3 deputy chairmen belong to USA, Europe and Asia.

Trade Related Aspects of Intellectual Property Rights (TRIPS)

May 21, 2018
Trade-Related Aspects of Intellectual Property Rights (TRIPS) is arguably the most important and comprehensive international agreement on intellectual property rights. Member countries of the WTO are automatically bound by the agreement. The Agreement covers most forms of intellectual property including patents, copyright, trademarks, geographical indications, industrial designs, trade secrets, and exclusionary rights over new plant varieties. It came into force on 1 January 1995 and is binding on all members of the World Trade Organization (WTO).

List of Members of ASEAN Organisation

May 18, 2018
The Association of Southeast Asian Nations, or ASEAN, was established on 8 August 1967 in Bangkok, Thailand. Currently there are 10 permanent members of this association. Its headquarter is in Jakarta (Indonesia).

15 Most Important facts about IMF

May 15, 2018
International Monetary Fund (IMF) and IBRD are known as the Bretton Woods twins due to their similar date and place of establishment. In this article we have compiled the most important facts about IMF. These all facts are important for the competitive exams to be held in India.

List of President of the World Bank Group

May 2, 2018
The President of the World Bank Group is the head of World Bank Group. The President is responsible for heading the meetings of the Boards of Directors and for overall management of the World Bank Group. The first President of the World Bank Group was Mr. Eugene Meyer from the USA. He assumed the office in 1946.

List of Managing Directors of International Monetary Fund

Apr 24, 2018
The International Monetary Fund (IMF) is led by a Managing Director, who is head of the staff and serves as Chairman of the Executive Board. Since its inception the Managing Director of IMF has been European and the president of the World Bank has been from the United States. Managing Director of the IMF is selected by the Executive Board consists of 24 member. Till date the IMF has had 11 Managing Directors since it began operations.

What are the names of Indian Credit Rating Agencies and their grades?

Mar 15, 2018
Credit rating agencies evaluate debentures, fixed deposits and other short term credit documents of various companies after studying their financial status, industrial risks and market conditions. There are 4 credit rating agencies working in India namely, CRISIL, ICRA, CARE and DCR India.

Is India in the position to boycott Chinese products?

Jul 14, 2017
According to official figures, in the year 2015-16, India's export to China was $ 7.56 billion and India's imports from China stood at $ 52.26 billion. These data shows that India's trade deficit with China was $ 44.7 billion. Indians need to keep in mind that India sends 8% of its total exports to China, while China sends only 2% of its total exports to India.

List of Top Five Debt Ridden Country of the World

Sep 16, 2016
A country found itself in debt trap when the expenditure of a country exceeds the revenue of that country year by year. After factual analysis we found that Japan is the most debt ridden country in the world followed by the Greece and Lebanon. Japan has debt of 229% of its GDP.

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