The Capital Account Convertibility of the Indian Rupee implies:
Contentsa being able to convert rupee notes into goldTMS, Ep 28: Q2 results, capital account convertibility, in-app purchasesMCQs Based on Economic Reforms and GlobalisationGet access to all of our verified questionsNo. 1 Private training for UPSC Prepartions An official channel where the exchange rate continues to be determined by RBI on the base of the value of rupee in relation to the basket of currencies and fixed, but access to the market is restricted. To prepare roadmap towards Full Capital Account Convertibility , Tarapore Committee was setup at the behest of Prime Minister Dr. Manmohan Singh. To attract foreign investment, many developing countries went in for CAC in the 1980s, not realising that free mobility of capital leaves countries open to both sudden and huge inflows and outflows, both of which can be potentially destabilising. More important, unless you have
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