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Answer : 1. "Current account"
At present, full convertibility of the rupee is applicable in India on which of the balance of payments?
5Q:
At present, full convertibility of the rupee is applicable in India on which of the balance of payments?
- 1Current accounttrue
- 2Capital accountfalse
- 3Trade account onlyfalse
- 4All of the abovefalse
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Answer : 1. "Current account"
Explanation :
He said that the government had allowed the rupee to be fully convertible in the current account in 1994. Since then, the rupee is being made convertible in the capital account also. At present, the Indian currency is convertible only in the current account.