Question
The RBI has allowed international trade settlement in
rupees for which AD banks need to open ____________, in terms of Regulation 7(1) of Foreign Exchange Management (Deposit) Regulations, 2016.Solution
In order to promote growth of global trade with emphasis on exports from India and to support the increasing interest of global trading community in INR, RBI put in place an additional arrangement for invoicing, payment, and settlement of exports / imports in INR. Before putting in place this mechanism, AD banks shall require prior approval from the Foreign Exchange Department of Reserve Bank of India. In terms of Regulation 7(1) of Foreign Exchange Management (Deposit) Regulations, 2016, AD banks in India have been permitted to open Special Rupee Vostro Accounts. Accordingly, for settlement of trade transactions with any country, AD bank in India may open Special Rupee Vostro Accounts of correspondent bank/s of the partner trading country. The settlement through Indian Rupees (INR) is an additional arrangement to the existing system that uses freely convertible currencies and will work as a complimentary system. This will reduce dependence on hard (freely convertible) currency. Banks will need to take prior approval from RBI before opening a Special Rupee vostro account, unlike Rupee Vostro account.
In the following questions, sentences are given with blanks to be filled in with an appropriate word(s). Four alternatives are suggested for each quest...
Indian women farmers are emerging _______ the backbone ______ the rural economy.
I. This __________ room is quite expensive.
II. She lead actor turned to face ____________.
III. She wore that dress to ____________ everyone.
 It has been known for years that ______ of natural gases can be _________ for health.Â
Choose the correct alternative out of the four choices given below each sentence.
I correspond _____ her regularly
The interviewers described these chats as essential in building up rapport and trust with the participant, and for ________ their concerns.
Select the most appropriate option to complete the sentence.
You are ___________ a good friend, __________ a responsible one.
The Raman effect ____________ from the inelastic scattering of radiation in the visible region by molecules.
Select the most appropriate option to complete the sentence.
My brother ____________ my parents to buy him a car for the last two years.
On the western border, Pakistan was _________by the international community to _________ a part of the world movement against the Soviet Union and its A...
Relevant for Exams:
