Petrodollar System In the early 1970s, the final vestiges of the international gold-backed dollar standard, known as the Bretton Woods arrangement, had collapsed. Many foreign nations, who had previously agreed to a gold-backed dollar as the global reserve currency, were now having seriously mixed feelings toward the arrangement. Nations like Britain, France, and Germany determined that...Read More
What is UPI? UPI or Unified Payments Interface is a mobile based payment service that directly transfers money from bank account to bank account. Is it like PayTM or MobiKwik? No. It is far better. These are 3rd party applications or “mobile wallets” which involve ‘loading’ money and ‘unloading’ to or from bank accounts. Often...Read More
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