Question:
What is World Bank? Discuss its various objectives and role of its affiliated agencies.
Answer:
The World Bank is an International Financial Institution that was established in 1944 at the Bretton Woods Conference.
The following are some of the main objectives behind the setting up of the World Bank:
- To facilitate the task of reconstruction of the war-affected European countries.
- To focus on the development of underdeveloped nations of the world.
- To encourage investments in infrastructure development, agriculture, health and industry;
- To eradicate poverty, increase the income of the poor and provide technological support.
The following are some of the affiliates of the World Bank:
- MIGA: MIGA, or the Multinational Investment Guarantee Agency, was established in April 1988 with the objective of encouraging foreign direct investments in the less developed nations of the world. It also aims at insuring investors against political and non-commercial risks and providing advisory services.
- IFC: The IFC, or the International Finance Corporation, was formed in 1956 as a separate legal entity to provide finance to the private sector in developing nations. Although the IFC is an affiliate of the World Bank, it has its own funding, besides functions that are managed independently.
- IDA: The IDA, or the International Development Association, was established in 1960 with the affiliation to the World Bank. The basic objective of the association is to provide loans and grants on a soft-loan basis to the less developed member countries—it aims at providing loans at concessional rates to the member countries
whose per capita income is very low. It is because of this objective that the IDA is also known as the World Bank's soft-loan window.
International Business II
Q 1.
List various affiliated bodies of World Bank.
Q 2.
Name any two WTO Agreements.
Q 3.
Explain the meaning of the following documents used in connection with import transactions
- Trade enquiry,
- Import license,
- Shipment of advice,
- Import general manifest,
- Bill of entry.
Q 4.
What is Advance License Scheme?
Q 5.
What is Shipping Bill?
Q 6.
Discuss the process involved in securing for exports.
Q 7.
Name the most important document of export.
Q 8.
What was the objective of MIGA?
Q 9.
List out major affiliated bodies of the World Bank.
Q 10.
Write short notes on the following:
- UNCTAD
- MIGA
- World Bank
- ITPO
- IMF
Q 11.
Write a detailed note on features, structure, objectives and functioning of WTO.
Q 12.
What is the main objective of WTO?
Q 13.
How many Export Promotion Councils are there in India?
Q 14.
Why is export promotion necessary?
Q 15.
Define Export Processing Zones.
Q 16.
Name the most important document used in import.
Q 17.
Why is it necessary for an export firm to go in for pre-shipment inspection?
Q 18.
What is pre-shipment finance?
Q 19.
When was State Trading Corporation established?
Q 20.
Discuss the principal documents used in exporting.
Q 21.
Santa Cruz is famous for which exclusive items?
Q 22.
Explain briefly the process of customs clearance of export goods.
Q 23.
How many regional and international offices does ITPO have?
Q 24.
Give full form of EPZ and SEZ.
Q 25.
Explain the term FOB.
Q 26.
Your firm is planning to import textile machinery from Canada. Describe the procedure involved in importing.
Q 27.
Write the full form of ICSID.
Q 28.
Write short note on Indent House and Dock Challan.
Q 29.
Explain different organizations involved in export promotion or facilitating foreign trade.
Q 30.
What is IMF? Discuss its .various objectives and functions.
Q 31.
Who is a clearing agent?
Q 32.
Why is it necessary to get registered with an Export Promotion Council?
Q 33.
Name the certificate which is used for ensuring timely payment.
Q 34.
How many Commodity Boards are there in India?
Q 35.
Discuss the formalities involved in getting an export license.
Q 36.
Which agency of World Bank provides loan to private sector of developing countries?
Q 37.
When was IIFT formed?
Q 38.
What is Performa Invoice?
Q 39.
What is IEC number?
Q 40.
List and explain various incentives and schemes that the government has evolved for promoting the country's foreign trade.
Q 41.
Explain the meaning of Mate's Receipt.
Q 42.
Explain the steps of export procedure.
Q 43.
Define Mate's Receipt.
Q 44.
What is Bill of Lading? How does it differ from bill of entry?
Q 45.
Explain the term FOB.
Q 46.
What is the purpose of pre-shipment finance?
Q 47.
Write the full form of DTA.
Q 48.
Why did WTO establish? What are its objectives?
Q 49.
Discuss the process involved in securing for exports.
Q 50.
Rekha Garments has received an order to export 2000 men's trousers to Swift Imports Ltd. located in Australia. Discuss the procedure that Rekha Garments would need to go through for executing the export order.
