Wednesday, July 6, 2011

which among the following sentence is INCORRECT regarding Foreign Currency Non Resident (FCNR) accounts in India ?

  •      Accounts in foreign currencies (FCNR accounts) can be maintained by NRIs with authorized dealers in India.
  •      FCNR Accounts can be maintained in Pound Sterling, U.S.Dollar, Deutsche Mark, Japanese Yen and Euro
  •      FCNR accounts can be maintained only in the form of current / savings account as well as 'term deposits'
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