India and IMF:
1. Till 1970, India stood fifth in the Fund and it had the power to appoint a permanent Executive Director.
2. India has been one of the major beneficiaries of the Fund assistance.
3. It has been getting aid from the various Fund Agencies from time to time and has been regularly repaying its debt.
4. India’s current quota in the IMF is SDRs (Special Drawing Rights) 5,821.5 million, making it the 13th largest quota holding country at IMF with shareholdings of 2.44%.
5. Besides receiving loans to meet deficit in its balance of payments, India has benefited in certain other respects from the membership of the Fund.
