Question
Foreign currency exchange risk in case of Non Resident
(Banks) scheme (FCNB) is borne by?Solution
Foreign currency non-resident deposits, usually abbreviated as FCNR(B) – the B stands for banks, are term deposits that non-resident Indians (NRIs) can open with banks in India. These deposits are denominated in foreign currencies permitted by the Reserve Bank of India. In Sept 2013, RBI introduced the three-month swap window for FCNR(B) deposits with a term for three years or more. Under this swap window RBI allowed banks to exchange (or swap) their FCNR(B) deposits with it by paying an interest at a fixed rate of 3.5%. During the period, the interest rate ceiling on these deposits was also increased to LIBOR/Swap plus 400 basis points.
Who is the author of the recently released “MODI@20: Dreams Meet Delivery” book?
In which year were Economic Reforms launched in India?
Which sector contributes the most to India's GDP?
In which of the following countries, scientists have discovered the remains of ‘Wilson’s little Penguin’?
Which one of the following is not one of the main objectives of the (Special Economic Zones Act) SEZ Act 2005?
What does the “C” stand for in LCR?
What does 'VAT' stand for in the context of taxation?
What does 'SLR' stand for in the context of banking regulations?
_________ will assume office as president of the Financial Action Task Force (FATF) on July 1 and will serve a fixed two-year term.
NPS for traders provide a monthly minimum assured pension of what amount after attaining the age of 60 years?
Relevant for Exams:
