ЁЯУв Too many exams? DonтАЩt know which one suits you best? Book Your Free Expert ЁЯСЙ call Now!

    Question

    What is the limit on the amount of money for trade

    related transactions under RDA?
    A тВ╣5 lakh Correct Answer Incorrect Answer
    B тВ╣10 lakh Correct Answer Incorrect Answer
    C тВ╣15 lakh Correct Answer Incorrect Answer
    D тВ╣20 lakh Correct Answer Incorrect Answer
    E тВ╣25 lakh Correct Answer Incorrect Answer

    Solution

    Rupee Drawing Arrangement (RDA) is a channel to receive cross-border remittances from overseas jurisdictions. This scheme is not used for cross-border outward remittances from India. There is no limit on the remittance amount as well as on the number of remittances. However, there is an upper cap of Rs.15.00 lakh for trade related transactions. No cash disbursement of remittances is allowed under RDA. The remittances have to be credited to the bank account of the beneficiary.

    Practice Next
    More Financial Management Questions

    Relevant for Exams:

    ask-question