The hard-felt need for international monetary co-operation led to the Bretton woods Conference of July, 1944. At the conference, the “Keynes” and the “white’s Plan” were discussed in detail by the representatives of 44 countries, and it was decided to start tow international financial institutions. IMF International Monetary Fund) and India: India is one of the founder members of the I.M.F. It is one of the largest subscribers. Its subscription is next only to the U.S.A. the U.K. West, Germany, France, Japan and Saudi Arabia.
