GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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2008 end
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2009 end
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2010 end
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2011 end
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Detailed explanation-1: -IAS Exam Latest Updates. The Reserve Bank of India established the Committee on Capital Account Convertibility (CAC) or S.S Tarapore Committee to propose a roadmap for full convertibility of the rupee on the capital account. In May 1997, the committee submitted its report.
Detailed explanation-2: -The Tarapore Committee (2006), for instance, defined capital account convertibility as the “freedom to convert local financial assets into foreign financial assets and vice versa.”
Detailed explanation-3: -The ceiling for External Commercial Borrowings (ECB) should be raised for automatic approval. NRI should be allowed to invest in capital markets. NRI deposits should be given tax benefits. Improvement of the Banking regulation. More items •15-May-2011