● Statement 1 is correct: According to Status Report on India’s External Debt 2021-22, released by The External Debt Management Unit (EDMU) India’s external debt stood at 620.7 billion USD by the end-March 2022. The major component of which was the External Commercial Borrowings followed by the NRI deposits. External Commercial Borrowings or ECBs are a part of the Capital Account of the Balance of Payment (BOP). ECBs are loans availed by Indian corporations and public sector Undertakings by foreign entities. ● Statement 2 is incorrect: The loans availed cannot be used for the investment in the Indian stock market and the speculation activities in the real estate sector. The regulation of the External Commercial Borrowings is done by the Ministry of Finance and the Reserve Bank of India.
Which new benchmark has the RBI introduced to replace MIBOR?
Which of the following statements regarding China-Pakistan Economic Corridor (CPEC) is not correct?
Which Union Ministry launched the 'Mera Bill-Mera Adhikar Scheme', aimed at promoting digital payments and financial inclusion, offering quarterly bumpe...
When is Vijay Diwas celebrated ?
The Reserve Bank of India (RBI) recently raised the limit for tax payments via UPI. What is the new transaction limit for these payments, and what addit...
Who is the author of the book “Pride, Prejudice and Punditry”?
Where is the headquarters of NATO located?
According to biannual report of the Department of Treasury, US Department of Treasury removed which of the following European country from its Currency ...
Recently, In order to reach seventeen lakh defense pensioners nationwide, the Defence Ministry has inked an MoU with which two banks?
Recently Reserve Bank of India imposes penalty of Rs 13.9 lakh on which of the following institution for non-compliance of the guidelines?
