Immunity against Global Financial Crisis
CMAT 2021 · General Knowledge · Medium · General Awareness
If another global financial crisis happens in the near future, which of the following actions/ policies are most likely to give some immunity to India? (A) Not depending on short-term foreign borrowings. (B) Opening up to more foreign banks. (C) Maintaining full capital account convertibility.
Choose the correct answer using the options given below:
- A.
(A) only
- B.
(C) only
- C.
(A) & (B) only
- D.
(A), (B) & (C)
A
Explanation
Avoiding short-term commercial debt shields an economy from capital flight during global liquidity shocks. Full capital account convertibility increases vulnerability. Thus, (A) only provides immunity.
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