Loading...
UPSC 1996: Hawala transactions relate to payments
(a)received in rupees against overseas currencies and vice versa without going through the official channels
(b)received for sale/transfer of shares without going through the established stock exchanges
(c)received as commission for services rendered to overseas investors/buyers/sellers in assisting them to get over the red tape and/or in getting preferential treatment
(d)made to political parties or to individuals for meeting election expenses
Attempt This Question
Not attemptedCorrect Answer: (a) received in rupees against overseas currencies and vice versa without going through the official channels
Hawala denotes informal, unrecorded remittance channels where foreign currency is swapped for rupees (and vice-versa) outside the authorised banking/forex system; it does not concern share transfers, brokerage commissions or election funding. ([examrobot.com](https://examrobot.com/content/hawala-transactions-relate-payments?utm_source=openai))
Related UPSC Questions
More from External Sector & Balance Of Payments
1999easy
Assertion (A): Devaluation of a currency may promote export. Reason (R): Price of the country's products in the international market may fall due to d
2002easy
Global capital flows to developing countries increased significantly during the nineties. In view of the East Asian financial crisis and the Latin Ame
2002easy
A country is said to be in debt trap if
Frequently Asked Questions
What is the correct answer to this UPSC 1996 Indian Economy question?▼
The correct answer is option (a): received in rupees against overseas currencies and vice versa without going through the official channels. Watch the detailed video explanation in our Sherlocking Prelims course on UnlockIAS.
Which year was this External Sector & Balance Of Payments question asked in UPSC Prelims?▼
This question was asked in UPSC CSE Prelims 1996, GS Paper 1, as Question 51. It falls under Indian Economy > External Sector & Balance Of Payments.
What is the difficulty level of this UPSC question?▼
This question is rated "easy". It tests basic recall and most well-prepared aspirants should answer it correctly.
How many UPSC Prelims questions have been asked from External Sector & Balance Of Payments?▼
UPSC has asked 49 questions from External Sector & Balance Of Payments (under Indian Economy) across multiple years. Visit the topic page to see the full list and year-wise trends.