India to pay $11 bn for higher voting share in IMF

He said the cash outflow would be about $2.75 billion, around 25% of the total amount. “... the balance is in the form of rupee denominated securities that can be encashed when required by the IMF," he noted.

In the 2012-13 Budget, the government has proposed to earmark Rs56,000 crore in case IMF calls for the payment when the quota reforms comes into effect.

The IMF reviews quota shares of member nations every five years and the last such review happened in 2010.

“The quota payment is an international obligation of Government of India as a member of the IMF. With the growth in India’s economy, its quota share has also increased reflecting the size of gross domestic product (GDP)," the minister noted.