Question
On what basis is an individual resident Indians
permitted to include NRI close relatives as a joint holder in resident bank account?Solution
Indian Residents can open a resident bank account jointly with an NRI on “either or survivor” basis according to the Reserve Bank of India (RBI). The term “either or survivor” refers to the condition where both of the account holders can operate the account independently in the absence of the other. Note – The accounts in India by NRIs (like NRE, NRO or FCNR accounts), can be held by NRI jointly with a resident relative on ‘former or survivor’ basis. In this case the resident relative can operate the account as a Power of Attorney holder during the life time of the NRI/ PIO account holder.
Which of the following is a window for the banks to borrow from RBI in an emergency when inter-bank liquidity dries up completely.
Which of the following correctly defines Yield to maturity (YTM)?
Which of the following does not contribute to credit risk?
Which institution refinances RRBs and Cooperative Banks?
Which bank was the first to be established specifically to cater to rural credit in India?
What is meant by a “zero-sum game” in the context of forward contracts?
The main objective of RRBs is to provide credit to:
Expand CAMELS as one of the rating systems used by RBI
What is the risk weight of cash while calculating Risk Weighted Assets (RWA)?
Export Credit Guarantee Corporation of India comes under the administrative control of ______________.
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