RBI CONCEPTS:ASIAN CLEARING UNION(ACU) #3

Oracle IAS, the best coaching institute for RBI grade B in Dehradun (Uttarakhand), brings to you views on important issues.

What is the Asian Clearing Union (ACU)?

Ans. The Asian Clearing Union (ACU) was established with its head-quarters at Tehran, Iran, on December 9, 1974 at the initiative of the United Nations Economic and Social Commission for Asia and Pacific (ESCAP), for promoting regional co-operation. The main objective of the clearing union is to facilitate payments among member countries for eligible transactions on a multilateral basis, thereby economizing on the use of foreign exchange reserves and transfer costs, as well as promoting trade among the participating countries.

Who are the members of the ACU?

Ans. The Central Banks and the Monetary Authorities of Bangladesh, Bhutan, India, Iran, Maldives, Myanmar, Nepal, Pakistan and Sri Lanka are currently the members of the ACU.

Contact us for:-

RBI Grade B coaching in Dehradun (Uttarakhand) , Current Affairs classes in Dehradun (Uttarakhand) , For best guidance and study material call 7088873675, 9997453844.

Author
Recent Posts

Hemant Bhatt

Chief Mentor at Oracle IAS

Hemant Bhatt is a B. Tech from Pantnagar University and has studied Social Sciences at SciencesPo, Paris. He teaches at Oracle IAS, Dehradun. He has given 5 UPSC mains back to back along with 2 interviews.
He is a bibliophile,accomplished writer and a fitness enthusiast.

Leave a Comment Cancel Reply