Which of the Financial institutions did India approach for loan at the time of 1991 Balance of Payme...........

Economic Affairs Balance of Payments

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Which of the Financial institutions did India approach for loan at the time of 1991 Balance of Payments Crisis?

1.International Bank for Reconstruction and Development (IBRD)

2.International Monetary Fund (IMF)

3.Asian Development Bank (ADB)

1 only

2 only

1 and 2

1, 2, and 3

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Explanation:

1 and 2

The correct option is 3, "1 and 2." During the 1991 Balance of Payments Crisis, India approached both the International Bank for Reconstruction and Development (IBRD) and the International Monetary Fund (IMF) for financial assistance. The assistance provided by these institutions played a significant role in stabilizing India's economy during that period.

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