Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

General Knowledge

Topic

Economics

Question:

When a huge financial burden was witnessed by India in the year 1991, two famous organizations supported us to uplift our economy. According to you, which organization supported India at the time of crisis by lending $7 billion?

Options:

IMF and Swiss Bank

World Bank and IMF

World Bank and Swiss Bank

None of the above

Correct Answer:

World Bank and IMF

Explanation:

India approached the International Bank for Reconstruction and Development (IBRD), popularly known as World Bank and the International Monetary Fund (IMF), and received $7 billion as loan to manage the crisis. Thus, the correct answer is Option 2.