Bop: What is Balance of

What is Balance of Payments (BoP)? Understanding the meaning of BoP: BoP summarises all transactions that a country’s individuals, companies, and government bodies complete (over a defined period) with individuals, companies, and government bodies outside the country. 2.1 The previous chapter dealt with the concepts, definitions and conventions associated with BoP accounts. It has, inter alia, covered concepts of residence, the nature of transactions, double-entry book-keeping, valuation and time of recording. This chapter discusses the triangular inter-relationship between BoP, IIP and the System of National Accounts (SNA). The concepts and coverage of BoP as well as the international investment position are discussed in relation to those under SNA, on ... Balance of Payment (BoP), Types and Components Balance of Payment is a record of a country's economic transactions with the world. Read all about Balance of Payment and its Components in this article for UPSC. The Reserve Bank of India's BOP portal provides information and resources on India's balance of payments and international investment position.