Full current account convertibility: Meaning & India's position - General Economics & Indian Economy

Q.  Consider the following statements

1. Full current account convertibility means no restrictions on cross border movement of currency.

2. At present, the Indian currency is convertible only on current account, though some capital account transactions are also permitted.

Which of the above statements is/are true?
- Published on 30 Apr 15

a. Only 1
b. Only 2
c. Both
d. None

ANSWER: Both

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