Which of the following statements regarding the International Monetary Fund are correct?
- It provides balance of payments support.
- It was established under the Bretton Woods Agreement.
- It is part of the World Bank Group.
- India is its member.
Choose the correct option from the following.
Correct answer: A
Explanation
The IMF provides balance of payments support, was set up under the 1944 Bretton Woods Agreement, and India is a member, so statements 1, 2 and 4 are correct. The IMF is a separate institution and isn't part of the World Bank Group, so statement 3 is wrong.