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      Question

      A Non Resident External Rupee(NRE) account can be

      opened by any individual residing outside India. Which of the following facility is not attached to NRE accounts?
      A KYC norms are not applicable on NRE accounts. Correct Answer Incorrect Answer
      B The interest earned by NRE account holders is not taxable in India. Correct Answer Incorrect Answer
      C Loans in foreign countries can be availed by an NRI through these accounts. Correct Answer Incorrect Answer
      D Transfer of funds across borders with no cost of transfer Correct Answer Incorrect Answer
      E None is true. Correct Answer Incorrect Answer

      Solution

      Non Resident External account ย  can be defined as an account ย  that allows transfer or conversion of Indian currency across borders in an effective manner and is also equipped with options to avail various types of saving schemes in India.

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