Question

A Non Resident External Rupee(NRE) account can be

Q: Answer-A Non Resident External Rupee(NRE) account can be opened by any individual residing outside India. W...

Non Resident External account can be defined as an account 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.

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.

B The interest earned by NRE account holders is not taxable in India.

C Loans in foreign countries can be availed by an NRI through these accounts.

D Transfer of funds across borders with no cost of transfer

E None is true.

Practice Next

More Economy and Banking and Finance Static Concepts Questions

Simplify:
4x + 6y - [(8x + 5y) - (3x + 2y) + 3y] - 2x
If 112 ÷28 x 2² –12 x 6 ÷ 3 +12 = z, then find the value of z.
If a = (√2 - 1)^1/3, then the value of (a-1/a)³ +3(a-1/a) is:
Solve for x in the equation: 3(x + 2) + 2(2x - 5) = 5x + 9
If p = 32 - q - r and pq + r(q + p) = 255, then find the value of (p² + q² + r²).
If a + b + c = 9 and ab + bc + ca = 20, then find the value of a² + b² + c².
If, ( a + b = 8 ) and ( a² + b² = 40 ), then find the value of (a³ + b³).
f(y) = y² – 5y + 6. Determine f(3) + f(–2).
If the sum of three numbers is zero, then which of the options below will always be equal to the value of the sum of the cubes of those numbers?

Relevant for Exams:

Canara Bank PO Recruitment

A Non Resident External Rupee(NRE) account can be

Solution

Relevant for Exams: