Question

What provision does not apply to remittances for replenishment of foreign currency balances?

a.

The provision allowing settlement of claims in rupees

b.

The provision allowing remittances of claims against exports

c.

The provision requiring specific approval of the Reserve Bank

d.

The provision permitting settlement through overseas claims settling agents

Answer: (c).The provision requiring specific approval of the Reserve Bank Explanation:The provision requiring specific approval of the Reserve Bank does not apply to remittances for replenishment of foreign currency balances. This provision is specific to ensuring compliance with regulatory requirements for foreign currency transactions and may require additional scrutiny and approval from the Reserve Bank.

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Q. What provision does not apply to remittances for replenishment of foreign currency balances?

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