The terms ‘Marginal Standing Facility Rate’ and ‘Net Demand and Time Liabilities’, sometimes appearing in news, are used in relation to

Explanation

Option a is correct: Balance of trade (exports − imports of goods) is a major component of the current account. Option b is incorrect: Foreign assets are part of the capital account/financial account of BoP, not the current account. Option c is correct: Balance of invisibles (services, remittances, income, transfers) is part of the current account. Option d is incorrect: Special Drawing Rights (SDRs) fall under capital account/official reserves, not current account.