How has India benefitted from IMF and why India knocked the door of IMF?

The International Monetary Fund (IMF) is an organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. Created in 1945, the IMF is governed by and accountable to the 189 countries that make up its near-global membership. The IMF's prime focus ensures the stability of the international monetary system-the system of exchange rates and international payments that enables countries (and their citizens) to transact with each other. The Fund's mandate was updated in 2012 to include all macroeconomic and financial sector issues that bear on global stability. India also got the following benefits of becoming the IMF members such as: Independence of the Indian Rupee Membership of the World Bank Availability of Foreign Currencies Reputation in International Circle Guidance and Advice Timely Help at the time of balance of payment crisis Freedom from Sterling Sale and Purchase of Foreign Exchange Economic Consultation Help during Emergency IMF has played an importance role in Indian economy. IMF had provided economic assistance from time to time to India and has also provided appropriate consultancy in determination of various policies in the country. India is the founder member of IMF. It played a significant role in the formulation of Fund Policies.