UPSC PRELIMS · ECONOMICS · FINANCIAL STABILITY — CAPITAL ACCOUNT
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? 1. Not depending on short-term foreign borrowing. 2. Opening up to more foreign banks. 3. Maintaining full capital account convertibility. Select the correct answer using the code given below:
Take a breath. Choose one. Press A–D on your keyboard if you like.
EXPLANATION
Reducing dependence on volatile short-term foreign borrowing lowers external vulnerability; greater foreign-bank exposure and full capital-account convertibility can increase vulnerability.
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