Question
The  Reserve Bank of India removed restrictions on
individuals from opening interest-earning Foreign Currency Accounts (FCA) in order to make India’s International Financial Services Centre (IFSC) more attractive under which it has removed the condition of repatriating any funds lying idle in the FCA account for a period of up to _______.Solution
With an aim to make India’s International Financial Services Centre (IFSC) more attractive, the Reserve Bank of India removed restrictions on individuals from opening interest-earning Foreign Currency Accounts (FCA).  Further, the central bank removed the condition of repatriating any funds lying idle in the FCA account for a period of up to 15 days.  In February 2021, the RBI allowed resident individuals to make remittances under the Liberalised Remittance Scheme (LRS) to IFSCs set up in India. However, the remittances were to be made only for making investments in IFSC securities.   Moreover, only a non-interest-bearing FCA was allowed in IFSCs under LRS. And any funds lying idle in the account for a period up to 15 days from the date of its receipt were to be immediately transferred back to the domestic account of the investor in India.
Statement : For the first time in decades, the Mysuru Zoo will receive a new species of wildlife to mark its 125th Anniversary.
I. Th...
Statement: Farm fires, being touted as the major reason for unbreathable Delhi air, are shown to account for only 40% of the current spell of deadly ha...
Statement: If private schools affiliated to the State Board appoint teachers without the right qualifications or fail to display their education status...
Statement: Farm fires, being touted as the major reason for unbreathable Delhi air, are shown to account for only 40% of the current spell of deadly h...
Statement: Large IT services companies are in the process of laying off employees on a scale not seen since the 2008-10 downturn.
I. The IT in...
Statement: Should all the industries in big cities be relocated at the outskirts of them in order to prevent industrial pollution.
Arguments: <...
In the following question below is given a statement followed by two assumptions numbered I and II. You have to consider the statement and the followi...
Statement: please consult before making any decision on imports from the company.
Assumption:
1) It is vital to take a right decision.<...
Statement: As an ongoing mission to help taxpayers, the e-portal service has been set up by the Additional Commissioner of Income Tax at the taxpayers/...
Statement : "The school has introduced a scholarship program for meritorious students from economically weaker sections."
Assumptions :
...
Relevant for Exams:
