Which of the below statements are correct regarding exchange trade? I. The value of rupee was managed by the state bank II. The strict foreign exchange controls also encouraged hawala trade III. India followed a strongly inward looking policy, laying stress on import substitution

Which of the below statements are correct regarding exchange trade? I.

1.	Which of the below statements are correct regarding exchange trade? I. The value of rupee was managed by the state bank II. The strict foreign exchange controls also encouraged hawala trade III. India followed a strongly inward looking policy, laying stress on import substitution
A.	Only I
B.	Both II & III
C.	Only III
D.	All the above
Answer» C. Only III

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Which of the below statements are correct regarding exchange trade? I. The value of rupee was managed by the state bank II. The strict foreign exchange controls also encouraged hawala trade III. India followed a strongly inward looking policy, laying stress on import substitution

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