Question : Which international financial institution provided financial assistance to India during the 1991 crisis?
Option 1: World Bank
Option 2: International Monetary Fund (IMF)
Option 3: Asian Development Bank (ADB)
Option 4: New Development Bank (NDB)
Correct Answer: International Monetary Fund (IMF)
Solution : The correct answer is (b) International Monetary Fund (IMF).
The International Monetary Fund provided financial assistance to India to help address the balance of payments crisis and stabilize its economy. The IMF's support included the provision of loans and the implementation of economic reforms as part of the assistance package. The assistance from the IMF played a crucial role in supporting India's economic recovery and implementing the necessary policy changes during that period.
