Question
When a simplified customer due diligence (CDD) is
carried out for opening accounts of foreign students, what is the maximum cap on foreign remittances permitted until the student’s local address is verified?Solution
Under RBI guidelines for simplified CDD in case of foreign students: • A Non-Resident Ordinary (NRO) account may be opened on the basis of their passport, visa/immigration documents, a photograph, and a letter of admission from an Indian educational institution. • A declaration of the local address must be obtained within 30 days, after which the bank verifies it. • Until this verification is complete, the account is subject to certain restrictions: o Foreign remittances capped at USD 1,000 (or equivalent), and o A maximum aggregate credit cap of ₹50,000 during the 30-day period. • Students of Pakistani nationality require prior RBI approval to open such accounts. Thus, the cap on foreign remittances before local address verification is USD 1,000.
Statements:Â
Some Gases are not Solids.
All Solids are Liquid.
Only a few Liquid are Precipitation.
Conclusions:
Statement: S < T ≥ O = R; T < V
Conclusion:
I. V > S
II. R < VÂ
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Statements:All papers are pencils.
No pencil is an eraser.
Conclusions:I. No paper is a pencil.
II. No paper is an eraser.
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Some copy are not book.
Only a few book are paper.
Only paper are notebook.
Conclusions:
Some copy may...
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Statements:
Some couliflower are cabbage.
Some cabbage are asparagus.
Some asparagus are pumpkin.
Conclusions:
I...
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Only a few Apple are not Mango
Some mangoes are orange
All orange are grapes
Conclusions-:
I. All or...
In the question below there are three statements followed by three conclusions I, II, and III. You have to take the three given statements to be true ...
Statements :No mango is a guava.
Some guavas are oranges.
Some oranges are apples.
Conclusions :I. Some apples are oranges.
...
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