At present Indian Rupee is

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Question

At present Indian Rupee is

Options:

A . fully convertible on current account

B . fully convertible on capital account

C . partially convertible on capital account

D . partially convertible on current account

Answer: Option A
Answer: (a)
At present Indian Rupee is fully convertible on the current account. Current account convertibility means that any company that wants to conduct business with outside companies (like TCS, Infy etc.) can convert the dollar payment into a Rupee payment or pay in terms of the dollar itself.
This is fully allowed in India provided that initial permission is taken from RBI.

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