Aartee Mishra is teaching live on Unacademy Plus
aily Lectuire Series Ramesh Singh' V brief summary o unacadeny 1 Indian Economy y Aartee Mishra External Sector inIndia Hindi
lam Aartee Mishra Graduated from Delhi University, Topper in all my semesters, Pursuing P.G and preparing for CSE. 2 Years of teaching experience of General Studies for competitive examination Have been teaching on Unacademy Plus
Ancient & Medieval History From Harappa to Revolt of 1857 with brief Art and Culture (Prelims & Mains) ^ unacademi Aartee Mishra Detailed Coverage of each and every topic from Ancient to Medieval India Short Crisp Notes for better Revision Test Series Course Starting from, 30th July 9:30pm-10:30pm on Unacademy Plus
CURRENT ACCOUNT It has two meanings-one is related to the banking sector and the other to the external sector . In the banking industry, a business firms bank account is known as current account. The account is in the name of a firm run by authorised person or persons in which no interest is paid by the bank on the deposits. Every withdrawal from the account takes place by cheques with limitations on the number of deposits and withdrawals in a single day. The overdraft facility or the cash-cum-credit (c/c Account) facility to business firms is offered by the banks on this account only. In the external sector, it refers to the account maintained by every government of the world in which every kind of current transactions is shown-basically this account is maintained by the central banking body of the economy on behalf of the government.
CURRENT ACCOUNT Current transactions of an economy in foreign currency all over the world are-export, import, interest payments, private remittances and transfers. All transactions are shown as either inflow or outflow (credit or debit) At the end of the year, the current account might be positive or negative. The positive one is known as a surplus current account, and the negative one is known as a deficit current account. India had surplus current accounts for three consecutive years (2000-03)the only such period in Indian economic history. Current account deficit is shown either numerically by showing the total monetary amount of the deficit, or in percentage of the GDP of the economy for the concerned year Both the data are used in analysis as per the specific requirement. As per a RBl release of April 2014, presently the sustainable level of current account deficit for India is 2.5 per cent of the GDP
CAPITAL ACCOUNT Every government of the world maintains a capital account, which shows the capital kind of transactions of the economy with outside economies. Every transaction in foreign currency (inflow or outflow) considered as capital is shown in this account-external lending and borrowing, foreign currency deposits of banks, external bonds issued by the Government of India, FDI, PIS and security market investment of the QFIs (Rupee is fully convertible in this case). There is no deficit or surplus in this account like the current account
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