ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The IMF became operational on 27th December 1945 with 29 member countries that agreed to bound to this treaty. It began its financial operations on 1st March 1947.

Detailed explanation-2: -The IMF was established in 1944 in the aftermath of the Great Depression of the 1930s. 44 founding member countries sought to build a framework for international economic cooperation.

Detailed explanation-3: -India agreed to participate in the Financial Transaction Plan of the IMF in late 2002.

Detailed explanation-4: -The IMF formally came into existence on 27 December 1945, when the first 29 countries ratified its Articles of Agreement.