Capital Account Convertibility in India
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Title: Capital Account Convertibility in India

Essay Details:

Subject: Miscellaneous
Author:
Date: September 14, 2015
Level: University
Grade: C
Length: 6 / 1532

Essay text:

The issue of capital account convertibility is one such where the nation has tread very cautiously. A high-level committee to look into this matter, appointed by the Reserve Bank of India, on Friday recommended that India move to fuller capital account convertibility over the next five years and has laid down the roadmap for the move. So what is capital account convertibility? To put is simply, capital account convertibility (CAC) -- or a floating exchange rate -- means the freedom to convert local financial assets into foreign financial assets and vice versa at market determined rates of exchange...

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