Question

What is the mandatory lock-in period for the underlying FCNR(

  • B deposits under this scheme, and can the corresponding swap undertaken with the RBI be cancelled prematurely?
A Lock-in period of 1 year; swaps cannot be cancelled
B Lock-in period of 3 years; swaps can be cancelled with a penalty
C Lock-in period of 6 months; swaps cannot be cancelled
D Lock-in period of 1 year; swaps can be cancelled at bank's discretion
Practice Next

More Forex markets and Guidelines Questions

Hey! Ask a query

🎓
Think You're Ready for RBI Grade B?
RBI Grade B 2026 Phase 1 Memory Based Paper
  • 200 Questions with Detailed Solutions
  • Section-wise Coverage (GA, English, Quant & Reasoning)