SSC Economics Sample Paper NCERT Sample Paper-1

  • question_answer
    Select the NRI bank account from the given list which. India does not permit to be opened in the country.

    A)  Foreign Currency Non-Resident (Bank) account [FCNR)  account]

    B)  Non-Resident External account (NRE account)

    C)  Non-Resident Ordinary Rupee account (NRO account)

    D)  None of the above

    Correct Answer: D

    Solution :

    [d] Foreign Exchange Management (Deposit) Regulations, 2000 permits Non-Resident Indians (NRIs) to have deposit accounts with authorized dealers and with banks authorized by the Reserve Bank of India (RBI). These accounts include: Foreign Currency Non-Resident (Bank) account (FCNR [b] account) Non-Resident External account (NRE account) and Non-Resident Ordinary Rupee account (NRO are only three such NRI accounts, which have already been given in the question.

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