Page 258 - General Knowledge

GENERAL KNOWLEDGE 2019

Organization of the I.F.C
 All the powers of the I.F.C have been vested in the Board of Governors.
 There is one Governor from each member country nominated by government of that country.
 The Board of Governors normally meets once a year to check out the general policy of the
corporation.
 The general business of the I.F.C is carried on by the Board of Directors which meets at
least once a month.

 There are 21 Executive Directors who constitute the Board of Directors of the corporation.
 The President of the World Bank is ex-officio Chairman of the Board of the Directors of I.F.C.
Subject to this over all supervision, the day-to-day routine working of the corporation is
conducted by the Executive Vice-President.
Capital of I.F.C
 The Corporation was started in July 1956 with an authorized capital of 100 million dollars.
 The capital has been increased from time to time to meet the increasing requirements of the
corporation.
 The Board of Directors has decided to double the authorized capital of I.F.C to 1,300 million
dollars. The corporation has also been borrowing funds from the World Bank to supplement
its financial resources.
MIGA (Multilateral Investment Guarantee Agency)
 The Multilateral Investment Guarantee Agency (MIGA) set up in 1988 encourages foreign
investment in developing economies by offering insurance to foreign private investors
against loss caused by non-commercial risks, such as currency transfer, expropriation, war
and civil disturbance.
 It also provides technical assistance to help countries disseminate information on investment
opportunities.
ICSID (International Centre for Settlement of Investment Disputes)
 The International Centre for Settlement of Investment Disputes, set up in 1966 is an
investment dispute settlement body whose decisions are binding on the parties.
 It was established under the 1966 Convention on the settlement of Investment Disputes
between States and Nationals of Other States.

INDIAN ECONOMY AT A GLANCE

The economy of India is a developing mixed economy. It is the world's sixth-largest economy by
nominal GDP and the third-largest by purchasing power parity. Wikipedia
Currency: Indian rupee

Gross domestic product: 2.26 lakh crores USD (2016) World Bank

GDP growth rate: 7.1% annual change (2016) World Bank

GDP per capita: 1,709.39 USD (2016) World Bank

GNI per capita: 6,490 PPP dollars (2016) World Bank

Internet users: 10.1% of the population (2011) World Bank

Gross national income: 8.59 lakh crores PPP dollars (2016) World Bank

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