Union Cabinet has given approval for India-IMF MoU forming SARTTAC
Q. Union Cabinet has approved the setting up of SARTTAC. What does SARTTAC stand for?- Published on 11 Mar 16a. South Australia Regional Training and Technical Assistance Centre
b. South Africa Regional Training and Technical Assistance Centre
c. South Asia Regional Training and Technical Assistance Centre
d. South America Regional Training and Technical Assistance Centre
ANSWER: South Asia Regional Training and Technical Assistance Centre
Approval has been given for entering into the Memorandum of Understanding (MoU) between India and International Monetary Fund (IMF) for setting up of South Asia Regional Training and Technical Assistance Center (SARTTAC) in India by the IMF. It also authorised the Finance Minister to approve related decisions in respect of India’s contribution for setting up of the centre, including Letter of Understanding for financial contribution by India, site of the SARTTAC, representative of India on the Steering Committee on SARTTAC. The SARTTAC will be a collaborative partnership between the IMF, Bangladesh, Bhutan, India, Maldives, Nepal and Sri Lanka and development partners for supporting the capacity development needs of the members. Additional member countries could join SARTTAC at a later stage. SARTTAC will also selectively cater to the capacity building needs at the State level, especially in India.
