BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It is not an agency of UNO
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It can grant loan to any country of the world
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It can grant loan to State Government of a country
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It grants loan only to member nations
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Detailed explanation-1: -The correct answer is It grants loans to only member countries. International Monetary Fund (IMF): The formation of the IMF was initiated in 1944 at the Bretton Woods Conference. IMF came into operation on 27th December 1945 and is today an international organization that consists of 189 member countries.
Detailed explanation-2: -IMF stands for International Monetary Fund. It is true that on becoming its member, countries get finance as temporary balance-of-payment needs. IMF works to ensure global market cooperation and financial stability of the global economyy.
Detailed explanation-3: -The IMF provides loans-including emergency loans-to member countries experiencing actual or potential balance of payments problems.
Detailed explanation-4: -3. Which of the following statement is NOT correct regarding the membership of the IMF? Explanation: All member countries of the IMF are not sovereign states therefore all “member countries” of the IMF are not members of the United Nations. 4.