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    Question

    As per FEMA, any person acquiring Foreign Exchange from

    AD Bank is permitted to use it ____
    A only for the purpose for which it is acquired or keep in deposit Correct Answer Incorrect Answer
    B only for the purpose for which it is acquired or any other permitted use Correct Answer Incorrect Answer
    C only for the purpose for which it is acquired Correct Answer Incorrect Answer
    D only for the purpose for which it is acquired or else surrender to AD Bank Correct Answer Incorrect Answer
    E Any of the above Correct Answer Incorrect Answer

    Solution

    As per FEMA, any person acquiring Foreign Exchange from AD Bank is permitted to use it for the purpose for which it is acquired or any other permitted use.

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