India's Forex Reserve and IMF
Today, the world sees India as a new power, not just militarily but with prospect of being an economic superpower, it is moving fast. Nation that adopted the path of economic liberalization by mortgaging its gold in 1991 is now ranked 4th in the world in terms of foreign exchange reserves by 2021. India has foreign exchange reserves of INR 47 lakh crore. India's foreign exchange reserves are currently the talk of the world, reason being a statement issued by International Monetary Fund. IMF have commented on India's rapidly growing foreign exchange. Informing the Reserve Bank of India, the IMF says that the pace at which India is raising foreign exchange should be slowed down by the RBI. Responding to the suggestion, the RBI said that the RBI is working in the same way as any other central bank in the world. We are seeing a lot of movements over the last few months on the issue of Indian foreign exchange reserves. The US Treasury had put India on the list of 'currency man...