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Direction: Foreign currency accounts are a type of bank account that allows Indian residents to hold and transact in foreign currencies. These accounts are typically opened with authorized dealers, such as banks or foreign exchange dealers, and can be maintained in various currencies, such as US dollars, Euros, or Japanese yen. Foreign currency accounts are subject to regulations set by the Reserve Bank of India, and certain restrictions may apply, such as limitations on the amount of foreign currency that can be held or transferred. Indian residents may open foreign currency accounts for various reasons, such as to facilitate international trade, receive foreign remittances, or invest in foreign assets.Q. Who is permitted to hold a foreign currency account with a bank outside India for remitting/receiving their salary payable to them in India?a)Indian citizens employed with Indian companies in Indiab)Foreign citizens employed with foreign companies outside Indiac)Foreign citizens employed with Indian companies in Indiad)Indian citizens employed with foreign companies outside IndiaCorrect answer is option 'C'. Can you explain this answer? for Bank Exams 2024 is part of Bank Exams preparation. The Question and answers have been prepared according to the Bank Exams exam syllabus. Information about Direction: Foreign currency accounts are a type of bank account that allows Indian residents to hold and transact in foreign currencies. These accounts are typically opened with authorized dealers, such as banks or foreign exchange dealers, and can be maintained in various currencies, such as US dollars, Euros, or Japanese yen. Foreign currency accounts are subject to regulations set by the Reserve Bank of India, and certain restrictions may apply, such as limitations on the amount of foreign currency that can be held or transferred. Indian residents may open foreign currency accounts for various reasons, such as to facilitate international trade, receive foreign remittances, or invest in foreign assets.Q. Who is permitted to hold a foreign currency account with a bank outside India for remitting/receiving their salary payable to them in India?a)Indian citizens employed with Indian companies in Indiab)Foreign citizens employed with foreign companies outside Indiac)Foreign citizens employed with Indian companies in Indiad)Indian citizens employed with foreign companies outside IndiaCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Bank Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Direction: Foreign currency accounts are a type of bank account that allows Indian residents to hold and transact in foreign currencies. These accounts are typically opened with authorized dealers, such as banks or foreign exchange dealers, and can be maintained in various currencies, such as US dollars, Euros, or Japanese yen. Foreign currency accounts are subject to regulations set by the Reserve Bank of India, and certain restrictions may apply, such as limitations on the amount of foreign currency that can be held or transferred. Indian residents may open foreign currency accounts for various reasons, such as to facilitate international trade, receive foreign remittances, or invest in foreign assets.Q. Who is permitted to hold a foreign currency account with a bank outside India for remitting/receiving their salary payable to them in India?a)Indian citizens employed with Indian companies in Indiab)Foreign citizens employed with foreign companies outside Indiac)Foreign citizens employed with Indian companies in Indiad)Indian citizens employed with foreign companies outside IndiaCorrect answer is option 'C'. Can you explain this answer?.

Solutions for Direction: Foreign currency accounts are a type of bank account that allows Indian residents to hold and transact in foreign currencies. These accounts are typically opened with authorized dealers, such as banks or foreign exchange dealers, and can be maintained in various currencies, such as US dollars, Euros, or Japanese yen. Foreign currency accounts are subject to regulations set by the Reserve Bank of India, and certain restrictions may apply, such as limitations on the amount of foreign currency that can be held or transferred. Indian residents may open foreign currency accounts for various reasons, such as to facilitate international trade, receive foreign remittances, or invest in foreign assets.Q. Who is permitted to hold a foreign currency account with a bank outside India for remitting/receiving their salary payable to them in India?a)Indian citizens employed with Indian companies in Indiab)Foreign citizens employed with foreign companies outside Indiac)Foreign citizens employed with Indian companies in Indiad)Indian citizens employed with foreign companies outside IndiaCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for Bank Exams. Download more important topics, notes, lectures and mock test series for Bank Exams Exam by signing up for free.

Here you can find the meaning of Direction: Foreign currency accounts are a type of bank account that allows Indian residents to hold and transact in foreign currencies. These accounts are typically opened with authorized dealers, such as banks or foreign exchange dealers, and can be maintained in various currencies, such as US dollars, Euros, or Japanese yen. Foreign currency accounts are subject to regulations set by the Reserve Bank of India, and certain restrictions may apply, such as limitations on the amount of foreign currency that can be held or transferred. Indian residents may open foreign currency accounts for various reasons, such as to facilitate international trade, receive foreign remittances, or invest in foreign assets.Q. Who is permitted to hold a foreign currency account with a bank outside India for remitting/receiving their salary payable to them in India?a)Indian citizens employed with Indian companies in Indiab)Foreign citizens employed with foreign companies outside Indiac)Foreign citizens employed with Indian companies in Indiad)Indian citizens employed with foreign companies outside IndiaCorrect answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Direction: Foreign currency accounts are a type of bank account that allows Indian residents to hold and transact in foreign currencies. These accounts are typically opened with authorized dealers, such as banks or foreign exchange dealers, and can be maintained in various currencies, such as US dollars, Euros, or Japanese yen. Foreign currency accounts are subject to regulations set by the Reserve Bank of India, and certain restrictions may apply, such as limitations on the amount of foreign currency that can be held or transferred. Indian residents may open foreign currency accounts for various reasons, such as to facilitate international trade, receive foreign remittances, or invest in foreign assets.Q. Who is permitted to hold a foreign currency account with a bank outside India for remitting/receiving their salary payable to them in India?a)Indian citizens employed with Indian companies in Indiab)Foreign citizens employed with foreign companies outside Indiac)Foreign citizens employed with Indian companies in Indiad)Indian citizens employed with foreign companies outside IndiaCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for Direction: Foreign currency accounts are a type of bank account that allows Indian residents to hold and transact in foreign currencies. These accounts are typically opened with authorized dealers, such as banks or foreign exchange dealers, and can be maintained in various currencies, such as US dollars, Euros, or Japanese yen. Foreign currency accounts are subject to regulations set by the Reserve Bank of India, and certain restrictions may apply, such as limitations on the amount of foreign currency that can be held or transferred. Indian residents may open foreign currency accounts for various reasons, such as to facilitate international trade, receive foreign remittances, or invest in foreign assets.Q. Who is permitted to hold a foreign currency account with a bank outside India for remitting/receiving their salary payable to them in India?a)Indian citizens employed with Indian companies in Indiab)Foreign citizens employed with foreign companies outside Indiac)Foreign citizens employed with Indian companies in Indiad)Indian citizens employed with foreign companies outside IndiaCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of Direction: Foreign currency accounts are a type of bank account that allows Indian residents to hold and transact in foreign currencies. These accounts are typically opened with authorized dealers, such as banks or foreign exchange dealers, and can be maintained in various currencies, such as US dollars, Euros, or Japanese yen. Foreign currency accounts are subject to regulations set by the Reserve Bank of India, and certain restrictions may apply, such as limitations on the amount of foreign currency that can be held or transferred. Indian residents may open foreign currency accounts for various reasons, such as to facilitate international trade, receive foreign remittances, or invest in foreign assets.Q. Who is permitted to hold a foreign currency account with a bank outside India for remitting/receiving their salary payable to them in India?a)Indian citizens employed with Indian companies in Indiab)Foreign citizens employed with foreign companies outside Indiac)Foreign citizens employed with Indian companies in Indiad)Indian citizens employed with foreign companies outside IndiaCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Direction: Foreign currency accounts are a type of bank account that allows Indian residents to hold and transact in foreign currencies. These accounts are typically opened with authorized dealers, such as banks or foreign exchange dealers, and can be maintained in various currencies, such as US dollars, Euros, or Japanese yen. Foreign currency accounts are subject to regulations set by the Reserve Bank of India, and certain restrictions may apply, such as limitations on the amount of foreign currency that can be held or transferred. Indian residents may open foreign currency accounts for various reasons, such as to facilitate international trade, receive foreign remittances, or invest in foreign assets.Q. Who is permitted to hold a foreign currency account with a bank outside India for remitting/receiving their salary payable to them in India?a)Indian citizens employed with Indian companies in Indiab)Foreign citizens employed with foreign companies outside Indiac)Foreign citizens employed with Indian companies in Indiad)Indian citizens employed with foreign companies outside IndiaCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice Bank Exams tests.