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WorksheetsTreasury & Forex, NRI Deposit and Remittances Facilities
Total questions: 106
Worksheet time: 2hrs 46mins
Foreign Currency Non-Resident (Banks) account can be opened in the name of the following
Non-resident Indian
Person of Indian origin
Overseas Corporate Bodies
Both a and b
General permission is available to any resident individual to surrender received / realised /unspent forex with in a period of
60 days
90 days
180 days
No time limit
Who is a PIO?
a) Who was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955);or
b) Who belonged to a territory that became part of India after the 15th day of August, 1947; or
c) Who is a child or a grandchild or a great grandchild of a citizen of India or of a person referred to in clause (a) or (b); or
d) Who is a spouse of foreign origin of a citizen of India or spouse of foreign origin of a person referred to in clause (a) or (b) or (c)
All of the above
An NRI is a joint ac holder with local resident .The local resident dies. what is the best alternative?
Bank should close the account & give the proceeds to a local resident related to the deceased.
Bank should honor the NRI as the sole survivor and repatriate the funds after conversion.
Bank should convert the account to NRO with NRI as the sole survivor.
None of these
Who is not considered NRI?
Indians going abroad for the purpose of research, tourism, business promotion, sports, medical treatment .
PIO residing in Nepal/Bhutan/Pakistan/Bangladesh
Crew members working for shipping and airline companies
all the above
The maximum tenure for NRE FD is in years.
1
3
5
10
Under Baroda NRE Premium SB account avg quarterly balance is INR.
25000
50000
100000
500000
Full form of FATCA.
Foreign Account Tax Compliance Act
Fictitious Account Tax Consolidation Act
Foreign Account Tax Treaty Compliance Act
Fictitious Account Tax Compliance Act
FCNR deposit with Forex exchange rate cover for conversion to INR at maturity by leveraging upon the difference between spot rate and forward rate. Name the product.
NRE
EEFC
RLFCD
RFC
Loans Against 3rd party FCNR deposit in INR .What is the margin?
30%
10%
40%
20%
Upon remittance by Western Union Financial Services a unique MTCN is conveyed by the remitter to the beneficiary in India. What is the full form of MTCN and how many digit it comprises?
Money Transfer Control Number /10
Money Transfer Collection Number/11
Money Transfer credit Number /10
Money transmission credit number /11
Which one of the following Exchange houses doesn't have a tie up with us?
Al Ansari Exchange LLC,UAE
Lulu International Exchange, UAE
UAE Exchange Centre LLC, UAE
Al Gurair Exchange LLC, UAE
Foreign Exchange Management Act (FEMA-1999) came in to effect from-
01.01.1999
01.06.1999
01.01.2000
01.06.2000
Which of the following is NOT true regarding NRE Accounts.
Account can be maintained in Term Deposit accounts only.
Term Deposits in Central Bank of India can be maintained for 1 Year to 10 Years.
The amount held is fully repatriable (Principal as well as Interest).
No income tax on interest earned.
Which of the following is correct regarding NRO Accounts.
Account can be maintained in any form as a Saving, Current, Recurring and Term Deposit account.
Only Term Deposits in Central bank of India can be maintained for minimum 1 Year and maximum 10 Years.
The amount held is fully repatriable (Principal as well as Interest).
No income tax on interest earned.
Minimum and Maximum period in case of FCNR(B) accounts are....................... and ........................
1 years & 10 years
1 years & 5 years
6 months & 10 years
6 months & 5 years
In case of FCNR & NRE accounts, NRIs are permitted to open joint accounts with resident close relatives. The mandate must be..........................
Either or Survivor
Former or Survivor
Any One can operate
Later or survivor
SWIFT Stands for.......................................
Society For Worldwide Interbank Financial Telecommunication
Society For Worldwide Interbank Financial Transfer
Society For Webbased Interbank Financial Transfer
Society For Webbased Interbank Financial Telecommunication
As per extant FEMA guidelines, Foreign students are permitted to open which type of accounts?
FCNR(B)
NRE
NRO
All of the above
Non-Resident Indians who have come back to India for permanent settlement are allowed to maintain a foreign currency account known as..............................
Resident Foreign Currency Account(RFC)
FCNR Account
Resident Foreign Currency Account- Domestic (RFC-Domestic)
EEFC Account
Which of the following statement is correct against Liberalised Remittance Scheme.
There are no restrictions on the frequency of remittances under LRS.
It is mandatory to have PAN number to make remittances under the Scheme.
Once a remittance is made for an amount up to USD 2,50,000 during the financial year, a resident individual would not be eligible to make any further remittances under this scheme, even if the proceeds of the investments have been brought back into the country
All of the above
When a person resident in India leaves India for a country (other than Nepal or Bhutan) for taking up employment or for carrying on business or vocation outside India or for any other purpose indicating his intention to stay outside India for an uncertain period, his existing account should be designated as.........................
NRO Account
FCNR Account
NRE Account
RFC Account
Travellers proceeding to Iraq or Libya can take foreign currency notes not exceeding USD________or its equivalent.
2000
3000
5000
10000
Unspent foreign exchange brought back to India by a resident individual should be surrendered to an Authorised Person within .................... days from the date of return of the traveller.
60
90
120
180
Under the Liberalised Remittance Scheme, all resident individuals, including minors, are allowed to freely remit up to USD.................................. per financial year (April – March) for any permissible current or capital account transaction or a combination of both.
100000
200000
500000
250000
Which of the following is NOT correct combination of Account with Type of Account.
FCNR – Term Deposit Only
NRE - Savings, Current, Recurring, Fixed Deposit
EEFC - Savings, Current, Recurring, Fixed Deposit
NRO - Savings, Current, Recurring, Fixed Deposit
Which of the following is a freely permissible credit in NRE Account?
Rupee gift/ loan made by a resident to a NRI/ PIO relative within the limits prescribed under the Liberalised Remittance Scheme.
Transfer from other NRE/ FCNR(B) accounts.
Transfers from other NRO accounts.
Rupee Cash Deposit up to Rs.50000/-.
Which of the following is correct regarding period of NRI Deposits.
FCNR Deposits can be opened for unlimited period.
FCNR Deposits can be accepted for terms not less than 1 year and not more than 5 years
For NRO term deposit, minimum period should be 1 year.
NRE term deposit can be opened for 1 days also.
Foreign national on a 3 months visit to India wants to open a bank account:
He cannot be allowed to open any account
He can open any type of account that he need of
He can open an NRE account
He can open a NRO account
NRE account can be opened by NRI by
Conversion of existing domestic account
By remittance from abroad or transfer of funds from existing NRE, FCNR accounts in the name of the same person
By transfer of funds from existing NRO accounts
Any eligible local credits
FCNR[B] can be opened as per RBI
USD
GPB
All Foreign currencies
Any freely convertible Currency
FCNR [B] account can be opened as per RBI
Savings and Time deposits only
Time deposits excluding RD
Time deposits only
Current account
The term “Authorized Dealer” means
The branches of a bank which are authorized by RBI to transact FOREX business
The banks which are authorized to deal in Foreign Exchange by RBI
The branches of a bank which are authorized to open NRI accounts
None of the above
What is the minimum deposit amount for our Bank's Foreign Currency Linked Rupee Deposits (FCLRD) Scheme?
USD 10000/- or its equivalent
USD 5000/- or its equivalent
USD 25000/- or its equivalent
USD 1000/- or its equivalent
For Loan Against FCNR (B) Deposits in Foreign Currency in India, maximum limit is-
USD 100000/- or its equivalent
USD 500000/- or its equivalent
Such loans can't be sanctioned
There's no ceiling
Particulars to be filled in SWIFT Field 70 is
Intermediary Institution
Beneficiary Customer A/c
Remittance Information
Sender to Receiver Information
Limit per transaction for Baroda Flash Remit-
Rs. 50000/-
Rs. 100000/-
Rs. 200000/-
Rs. 500000/-
Minimum investment term for NRO deposits
3 months
1 month
7 days
1 day
Maximum period for RFC Deposits
12 months
18 months
36 months
60 months
Our Bank is having tie-up arrangement with
exchange houses in UAE
4
3
2
1
On what basis interest is calculated on FCNR [B] deposits
12 months to 1 year
360 days to 1 year
52 weeks to 1year
365 days to 1 year
A Japanese citizen of Non Indian origin comes to India as tourist. She wants to open an account with your branch you will
open NRO a/c
open NRE a/c
ordinary savings a/c
advise her to bring permission from RBI
Which one of the following is not Eligible Credits in NRE account ?
Proceeds of remittance from Overseas to India/From other NRE.
Proceeds of remittance from Overseas to India/From other FCNR (B).
Transfer from NRO A/C (USD one million per financial year subject to deduction of applicable tax)
Transfer from NRO A/C (USD one million per financial year subject without any tax)
There is a Centralized Processing cell for opening NRE/NRO Savings Bank Accounts for applications sponsored by our______.
USA, UK and Uganda territories.
USA, Kenya and Uganda territories.
UAE, Kenya and Uganda territories.
USA, UK and UAE territories.
What is the Repatriability norms for NRO A/Cs ?
Repatriable up to USD 1 million per FY out of balance held in A/c. subject to payments of tax and production of C.A. certificate i.e. Form 15CA and Form 15 CB as per applicability.
Repatriable up to USD 10 million per FY out of balance held in A/c. subject to payments of tax and production of C.A. certificate i.e. Form 15CA and Form 15 CB as per applicability.
Repatriable up to USD 1 million per FY out of balance held in A/c.
Repatriable up to USD 10 million per FY out of balance held in A/c.
Identify the incorrect statement w.r.t. CRS.
Common Reporting standard (CRS) is a global level uniform standard for automatic exchange of financial account information.
CRS, an initiative of G-20 countries and Organisation for Economic Co-operation and Development (OECD) and is completely different from FATCA.
CRS, an initiative of G-20 countries and Organisation for Economic Co-operation and Development (OECD) and is similar to FATCA.
Under this standard, jurisdictions would obtain financial information from their financial institutions and exchange that information with other jurisdictions on an automatic annual basis.
Identify the incorrect statement w.r.t. Rapid funds2 India.
In-house online money transfer facility
Instant credit to beneficiary’s account with Bank of Baroda’s over 5000+ CBS enabled branches
Money transfer upto 10000 USD only per transaction.
Same day/ within 24 –hour credit to the beneficiary/s account with 110300+ branches of other banks through RTGS/ NEFT
Identify the incorrect statement w.r.t. Baroda Flash remit.
This is a real-time instant account credit facility in partnership with UAE Exchange Centre LLC (UAEECL)
NRI customer desirous of sending remittance through Baroda Flash Remit visits any of UAEECL location overseas. Remitter furnishes beneficiaries account no and name details to UAEECL
Money transfer without any threshold amount
Trade Transactions are not allowed in the scheme
Identify the incorrect statement w.r.t. Exchange Earners’ Foreign Currency (EEFC) Accounts.
All categories of foreign exchange earners are allowed to open and to credit up to 100 per cent of their foreign exchange earnings to their EEFC Accounts with authorized dealers in India.
The sum total of the accruals in the account during a calendar month should be converted into rupees on or before the last day of the succeeding calendar month.
No credit facilities, either fund-based or non-fund based, shall be permitted against the security of balances held in EEFC accounts by the AD Category – I banks.
This account shall be maintained only in the form of non-interest bearing current account and savings account.
Which of the following statements is incorrect with respect to Current Account Transactions?
It deals with country's short term transactions or the difference between its savings and investments.
These are also referred to as actual transactions as they have a real impact on income, output and employment levels through the movement of goods and services in the economy.
Consists of Visible trade (Export and import of goods), Invisible trade (Export and import of services), Unilateral transfers and investments income (Income from factors such as land or foreign shares).
Its concerned with all international trade transactions between citizens of a one country with another country.
EXPORT and IMPORT of goods are regulated by DGFT with regard to flow of Trade. Full form of DGFT is ___________.
Deputy General of Foreign Trade (DGFT)
Directorate General of Forex Trade (DGFT)
Directorate General of Foreign Trade (DGFT)
Director General of Foreign Trade (DGFT)
Which of the following statements is incorrect with respect to Capital Account Account Transactions?
The components of the capital account include foreign
investment and loans, banking and other forms of capital.
It is a record of the inflows and outflows of capital that directly affect a nations foreign assets and liabilities.
These are also referred to as actual transactions as they have a real impact on income, output and employment levels through the movement of goods and services in the economy.
The capital account flow reflects factors such as commercial borrowings, banking, investments, loans, and capital.
Which of the following statements is incorrect with respect to Convertibility?
Currency convertibility means the freedom to convert one currency into other internationally accepted currencies.
Full convertibility of rupees means unified market determined exchange rate regime, converting rupees in to foreign currencies on both sides.
From current account side exporters and importers are not allowed a free conversion of rupee.
From capital account side rupee is allowed for conversion under two routes: Automatic & Approval.
Which of the following statements is incorrect with respect to DGFT?
DGFT is the agency of the Ministry of Commerce and Industry of the GOI, responsible for execution of the import and export Policies of India.
DGFT plays a very important role in the development of trading relations with various other nations and thus help in improving not only the economic growth but also provides a certain impetus needed in the trade industry.
For promoting exports and imports DGFT establish its Foreign offices across the world.
It was earlier known as Chief Controller of Imports & Exports (CCI&E) till 1991.
Which of the following statements is incorrect with respect to functions and responsibilities of DGFT?
DGFT can prohibit, restrict and regulate exports and imports.
DGFT grant 10 digit IEC (Importer Exporter Code), which is a primary requirement to Import Export.
DGFT entrusted with the responsibility of implementing various policies regarding trade for example, Foreign Trade Policy.
DGFT regulated foreign Exchange in India.
Which of the following statements is incorrect with respect to Financial Action Task Force (FATF) ?
The Financial Action Task Force (FATF) is the global money laundering and terrorist financing watchdog.
The inter-governmental body sets international standards that aim to prevent these illegal activities and the harm they cause to society.
With more than 300 countries and jurisdictions committed to implementing them.
As a policy-making body, the FATF works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas.
Which of the following statements is incorrect with respect to Rapid Funds2India ?
Easy and hassle-free Instant Money Transfer to interconnected branch in India.
Instant credit to beneficiary's account with Bank of Baroda's interconnected branches in India under the Core Banking Solution (CBS) network.
No minimum or maximum amount for transfer to a Bank of Baroda branch & to branches of other Banks through NEFT.
Confirmation of credit to the remitter through domestic branch.
Which of the following statements is incorrect with respect to our Inward remittance product in tie up with M/s Western Union Financial Services International USA (WUFSI) ?
A cap of maximum USD 5000 (in equivalent Indian Rupees) per transaction has been placed on individual remittance under the scheme.
Maximum 30 remittances can be received by a single individual beneficiary under the scheme during a calendar year.
Amount up to Rs. 50,000/- may be paid in cash to a beneficiary in India.
Any remittance exceeding Rs.50000- shall be paid entirely by means of account payee cheque/ demand draft/ payment order, etc. or credited directly to the beneficiary's bank account only.
Which of the following statements is incorrect with respect to SPECIAL NON-RESIDENT RUPEE ACCOUNT (SNRR) ?
Any person resident outside India, having a business interest in India for putting through bona fide transactions in rupees, cam open this account.
Its a Non-interest bearing Account.
Opening of SNRR accounts by Pakistan and Bangladesh nationals and entities incorporated in Pakistan and Bangladesh does not require prior approval of Reserve Bank.
Transfers from any NRO Account to the SNRR Account are not permitted.
Which of the following statements is incorrect with respect to FOREIGN CURRENCY NON RESIDENT (B) TERM DEPOSIT [FCNR (B)] ?
Account can be opened For period 1 year to 5 years
No Interest payable on FCNR if period of deposit < 1 year.
Automatic renewal on due date for 1 year at the prevailing rate of interest in the absence of fresh instructions
Overseas Corporate Bodies (OCB) will get 1% extra in FCNR (B) Deposits effective from 16.09.2003.
Bank offers FOREIGN CURRENCY NON RESIDENT (B) TERM DEPOSIT [FCNR (B)] in __________Currencies namely __________.
Six i.e. USD, GBP, EUR, AUD, CAD, JPY
Five i.e. USD, GBP, EUR, AUD, CAD
Four i.e. USD, GBP, EUR, AUD
Three i.e. USD, GBP, EUR
Which of the following statements is incorrect with respect to NRE SAVINGS BANK ACCOUNT ?
Interest is payable half yearly (June and December)
Interest is payable half yearly (March and September)
During their personal visit NRIs can tender cash in foreign currency and foreign currency travellers’ cheques which can be converted into Indian Rupees for crediting their account
Transfer from any non-resident (external) rupee savings and fixed deposit account or foreign currency deposit (FCNR), local rupee cheques (drawn in India), etc., and cash in rupees cannot be deposited in this account.
Which of the following statements is incorrect with respect to BARODA PREMIUM NRE SAVINGS BANK ACCOUNT ?
Free Debit MASTER enabled ATM card.
Quarterly Average Balance (QAB) of Rs.50000- is to be maintained by depositor.
No charges for collection of cheque drawn on self a/c / travel cheques / Currency notes tendered during personal visit.
Preferential Exchange Rate for conversion.
Which of the following statements is incorrect with respect to NRO SAVINGS BANK ACCOUNT ?
The Principal funds are entirely non-repatriable while the interest is repatriable after deduction of tax at source.
Repatriation facility up to USD 1 million per Financial Year April-March subject to conditions.
Specific to NRI's, a NRO-SB account can be opened by remittance from abroad or by legitimate dues in rupees of the account holder in India.
The existing domestic A/C of the Resident can not be converted to NRO A/C on their taking up business/employment/immigration abroad.
Which of the following statements is incorrect with respect to RUPEE LINKED FOREIGN CURRENCY DEPOSIT ACCOUNT (RLFCD) ?
The deposit receipt shall be issued in any of denominated foreign currencies i.e. USD, GBP, EUR and AUD.
For 60 Months period WITH Forward Exchange Cover booked for conversion to INR at maturity.
Minimum USD 10,000 or its equivalent in any convertible currency including INR Equivalent.
Principal & Interest Fully Exempt from Income tax in India.
Which of the following statements is incorrect with respect to FOREIGN CURRENCY RUPEE LINKED DEPOSIT
(FCRLD) ?
The remittance received from abroad is converted into Rupees and placed in NRE Rupee Deposit for 12 months.
On maturity, funds will be converted in to Foreign Currency and credited to the A/c of customer choice /NRE Savings Bank.
Minimum USD 10,00 or its equivalent in any convertible currency including INR Equivalent.
Deposit will be accepted for period of 12 months only.
Which of the following statements is incorrect with respect to RESIDENT FOREIGN CURRENCY ACCOUNT (RFC) ?
RFC deposits of 12 months up to 60 months will be charged with the same interest rates as FCNR DEPOSITS.
Applicable interest will be paid for premature payment before 12 months.
No permission of Reserve Bank is required for opening or transferring RFC funds abroad.
For going abroad again, an NRI can freely use this money and also have the accounts re-designated as FCNR and NRE accounts just as they were before 'return to India'.
Which of the following statements is incorrect with respect to RFC (DOMESTIC) ACCOUNT ?
Only a Current Account can be opened.
A minimum balance of USD 500 or equivalent is mandatory.
This deposit plan is ideal for utilizing foreign exchange acquired on account of a visit to any place outside India by way of payment for services not arising from any business or similar service in India.
Only a Term Deposit can be opened.
Which of the following statements is incorrect with respect to BARODA ADVANTAGE FIXED DEPOSITS (NON-CALLABLE) ?
Minimum Rs 10.01 lacs and maximum below Rs. 2 crores. ( and further in multiple of Rs.1000/-).
An individual NRI/PIO in his own name can open Account.
Period Minimum – 12 months and Maximum – 120 months
Frequency of Interest payment in the account will be similar as applicable to Normal Term Deposit (callable) product.
Which of the following statements is incorrect with respect to Liberalized Remittance Scheme (LRS)?
Applicable for Resident Individuals including minors.
Limit is 2.5 Lacs USD per F.Y.
For permitted current & capital account transactions
PAN No. is not mandatory
Which of the following statements is incorrect with respect to NRE Account and FCNR (B) Account?
May be held jointly in the names of two or more NRIs/ PIOs.
Power of Attorney is limited to Six Months Only .
The resident relative can operate the account as a Power of Attorney holder during the life time of the NRI/ PIO account holder.
NRIs/ PIOs can hold jointly with a resident relative on ‘former or survivor’ basis (relative as defined in Companies Act, 2013).
What is Exchange Rate?
The value of one product for the purpose of exchange to another.
The Price of one product for the purpose of exchange to another.
The value of one currency for the purpose of conversion to another.
The rate of one product for the purpose of exchange to another.
What is ADS?
Automated Dealing System
Automatic Dealing System
Automation Dealing System
Autocratic Dealing System
Exports and Imports come under the purview of ___________.
Ministry of External Affairs
Ministry of Finance
Ministry of Commerce
Ministry of Home Affairs
Which Act regulates the flow of Foreign Exchange into / out of India?
FEDAI
FERA
FEMA
KYC/AML
Who gives license to a Bank to carry out Foreign Exchange Business?
RBI
FEMA
DGFT
FEDAI
A Foreign currency account maintained by a bank abroad is its:
Vostro account.
Nostro account.
Loro Account.
Foreign bank account.
The authorized dealers under FEMA are classified into how many categories:
One
Two
Three
Four
The term “Loro account” means.
Our account with you.
Your account with us.
Their account with them.
None of the above.
The term “Vostro “ account means:
Our account with you.
Their account with them.
Your account with us.
None of the above.
Who are authorized to carry out all current account and capital account transactions:
Authorised Dealer- Cat-I
Authorised Dealer- Cat –II
Authorised Dealer – Cat III
Money Changers
Under NRO Account, the repatriation can be done up to ___________.
USD 10000
USD 100000
USD 1 million
No limit
Any resident indian can hold Indian rupees during their travel abroad up to:
Rs.7500
Rs.10000
Rs.25000
No limit
The NRE/ NRO accounts can be opened by NRI/PIO as a joint accounts with close relatives who are resident indian under _____________ condition:
Either or Survivor
Jointly
Former or Survivor
No conditions apply
Resident Foreign Currency (Domestic) account can be opened as _________.
Only Current account
SB/ CA
Term deposits only
SB/CA and Term deposits
Full-fledged money changers are authorized to undertake:
Only sale transactions
Only purchase transactions
All types of foreign exchange transactions
Purchase and sale of foreign currency notes, coins and travelers cheques.
The acronym FEDAI stands for:
Federal Export Dealers' Association of India
Fixed Earners' Draft Agreement on Interest
Foreign Exchange Dealers' Association of India
None of the above
The exchange of goods and services are known as:
Domestic Trade
International Trade
Trade
None of these.
The beneficiary under a Letter of Credit is _________.
The bank opening the credit
The customer of the opening bank
The confirming bank
The exporter
A Letter of Credit is opened on behalf of _________.
Exporter
Importer
Indeting agent
None of the above
Under the LRS, release of foreign exchange exceeding USD 250000, requires?
Not Permitted
Permission from Foreign Ministry, Govt. Of India
Permission from RBI
Permission from Finance Ministry, Govt. Of India
Under the LRS, the applicants should have maintained the bank account with bank for a minimum period of ___Year/s prior to the remittances for capital account.
1 Year
2 Years
3 Years
4 Years
Under the LRS, NRI can lend to resident individual who is his close relative an amount not exceeding to USD 250000 or its equivalent subject to following conditions except?
The Maximum maturity of the loan is one year
The loan is free of interest
The minimum maturity of the loan is one year.
Amount of loan is received by inwards remittance through normal banking channel or by debit to the NRE/FCNR(B) aacount of NRI
IEC (Import Export Code) is mandatory for ________.
Exporter only
Importer only
Both for Exporter and/or Importer
Mandatory of Exporter and Voluntarily for Importer.
Foreign Exchange Transaction done by a Bank with its Customer is a ________.
Inter Bank Transaction
Merchant Transaction
Domestic transaction
Global Transaction.
Two parties agreeing to buy and sell from each other without involving payment is known as:
Domestic Trade.
Foreign Trade.
Countertrade.
Non Paying Trade.
Under FEMA, the RBI has been authorized to make ------ to carry out the provisions of the Act.
Rules
Regulations.
Both rules and regulations.
Notifications.
As per FEDAI Rules, the rupee value of all foreign exchange transactions should be rounded off to:
Nearest rupee
Nearest ten rupees
Nearest paise
Nearest ten paise
What is the benchmark exchange rate?
TOM
CASH
FORWARD
SPOT
Full fledged money changers are authorized to undertake_________________.
Only sale transactions.
Only purchase transactions.
All types of foreign exchange transactions
Purchase and sale of foreign currency notes, coins and travellers cheque.
What is European Option?
The option which can be exercised by the buyer only on the date of maturity.
The Option which can be exercised on any working day before the maturity or on the maturity date.
The option which can be exercised by the buyer only two days prior to the date of maturity.
The option which can be exercised by the buyer only Three days prior to the date of maturity.
What is American Option ?
The option which can be exercised by the buyer only on the date of maturity.
The Option which can be exercised on any working day before the maturity or on the maturity date.
The option which can be exercised by the buyer only two days prior to the date of maturity.
The option which can be exercised by the buyer only Three days prior to the date of maturity.
Effective Oct 1, 2020, Tax Collected at Source ( TCS ) is ______for International transactions on Debit Cards (including Dynamic Currency Conversion - DCC transactions)
3% of the transaction / remittance amount
5% of the transaction / remittance amount
2% of the transaction / remittance amount
0.5% of the transaction / remittance amount
As per RBI direction, Power of Attorney granted in favour of a resident by the non-resident account holder in NRE and FCNR (B) accounts are allowed to________.
Open an NRE & FCNR (B) account;
Make payment by way of gift to a resident on behalf of the account holder;
Transfer funds from the account to another NRE account.
Withdrawals for local payments or remittance to the account holder himself through banking channels.
As per RBI direction, Power of Attorney granted in favour of a resident by the non-resident account holder in NRO accounts are not allowed to________.
All local payments in rupees subject to compliance with relevant regulations made by the Reserve Bank.
Remittance outside India of current income in India of the non- resident individual account holder, net of applicable taxes.
Transfer funds from the account to another NRO account.
All local payments in rupees including payments for eligible investments subject to compliance with relevant regulations made by the Reserve Bank.
As on date Bank of Baroda has ___________NOSTRO accounts in _____________different currencies.
15, 15
11, 11
12,12
13,13
