International Economic Organizations: The World Bank
The World Bank was established in 1944 in the name of the International Bank for Reconstruction and Development (IBRD) to help rebuild Europe and Japan after World War II. The Bank began operations in 1946, it had 38 members. At present this international development organization has members of 187 countries. The World Bank aims to…
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International organisations: The IMF
International Monetary Fund (IMF) is an important financial agency of the United Nations and an international financial institution founded by 190 member countries, with headquarters in Washington, D.C. Initially, IMF was created in 1945 along with the International Bank for Reconstruction and Development at the Conference of 44 Nations held at Bretton Woods, New Hampshire,…
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What is SDR?
The SDR (Special Drawing Rights) is an international reserve asset created by the IMF as a supplementary international reserve asset in 1969. The SDR serves as the unit of account of the IMF and other international organizations. The SDR is not a currency, but its value is based on a basket of five currencies—the US…
Read article International organisations: The WTO
The World Trade Organization (WTO) is an intergovernmental organization established on January 1, 1995, replacing the earlier General Agreement on Tariffs and Trade (GATT). It is an international organisation headquartered in Geneva, Switzerland dealing with the international rules of trade between nations. WTO is run by its member governments of over 160 countries representing 98…
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RBI cautions public against Prepaid Payment Instruments issued by unauthorised entities
The RBI on Thursday said Gurugram-registered TalkCharge Technologies Pvt. Ltd. having its registered office at Unit No. 323, JMD Megapolis, 3rd Floor, Sohna Road, Sector 48, Gurgaon, Haryana-122018, is issuing Prepaid Payment Instruments (Wallets) through its website and app (application) ‘TalkCharge’ without obtaining the required authorization from RBI under the provisions of the Payment and…
Challenges to be addressed in upcoming FTP, FDIs, FIIs and Recent trends
India is on its way to increase its exports by around three times to reach the target of $2 trillion by 2030 despite the imposition of restrictions on exports of some items to rein in inflation on the domestic front and adverse geopolitical situation, Commerce and Industry Minister Piyush Goyal said on January 6, 2024.…
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