At what% of GDP at current market prices, the Reserve Bank of India, in consultation with the government, has decided to have a rule-based dynamic limit for outstanding stock of External Commercial Borrowings (ECB)?

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	7.50%
B	6.5%
C	3.30%
D	4.50%

Explanation:

Detailed explanation-1: -RBI to have rule-based dynamic limit for outstanding ECBs at 6.5% of GDP. The Reserve Bank of India, in consultation with the government, has decided to have a rule-based dynamic limit for outstanding stock of External Commercial Borrowings (ECB) at 6.5 per cent of GDP at current market prices.

Detailed explanation-2: -Automatic Route: Up to USD 150 million or equivalent for every import transaction for gas/ oil refining and marketing, airline and shipping companies. Up to USD 50 million or equivalent for every import transaction.

Detailed explanation-3: -As announced in the Monetary Policy Statement 2022-23 dated September 30, 2022, the Bank Rate is revised upwards by 50 basis points from 5.65 per cent to 6.15 per cent with immediate effect.

There is 1 question to complete.