everything related to rupee convertibility.
what it is ?
how it is implemented?
pros and cons
2006-10-01 08:37:01 · 3 answers · asked by Stentorian 1 in Business & Finance ➔ Other - Business & Finance
http://www.rediff.com/money/2006/apr/04rupee.htm
This article is clearly written, and it explains how the situation in currently limited, as well as ways it will become more flexible, and the benefits/disadvantages related to the change in convertibility.
"Currently the rupee can be freely converted for trade in goods and services, but restrictions are placed on international asset acquisition. You need prior approval to move capital across borders, an companies need central bank permission to borrow from overseas. India has set a limit of $15 billion on overseas corporate borrowing for fiscal 2007 (ending March), up from $12 billion in the current fiscal year. "
2006-10-01 08:51:45 · answer #1 · answered by MailorderMaven 6 · 0⤊ 0⤋
I have found most British people to be quite polite and rather fun. I am an American, the son of a Scotsman, and if there was ever a people to dislike the Brits, it should either be a Scot or an Irishman. Growing up, I spent at least one day per week playing soccer with foreigners, as it was not a well known game back then. The differences in our cultures explain much of how we perceive them as such, but when you get to know the people, you will find they are truly a fun loving bunch and make as much fun of themselves as the do others. It is almost a British comical cultural thing. They make fun of each others' favorite teams, much as we do, but their style of humor comes across a little "off" by our standards. So, just try to realize our cultural differences are what makes us see them as the "high and mighty, self-righteous assholes", (that and the fact that we beat them for our independence and many are still bitter about that.)
2016-03-27 01:06:51 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It is as simple as it sounds. US dollar is the universal currency and with rupees you can not do anything outside India. So you have to convert it in to dollars. But who will buy it?. So you have to buy dollars from Indian banks or currency exchange. But there is a limit. You can not simply convert your 1 crore rupees in to 250,000 US dollar.
But Industrialists and politicians know several tricks to convert all their money.
2006-10-01 08:53:52 · answer #3 · answered by liketoaskq 5 · 0⤊ 0⤋