Question
a.
Payment must be made in foreign currency to resident beneficiaries
b.
Payment may be made in Rupee equivalent of foreign currency due to resident beneficiaries
c.
Payment must be made in Rupee equivalent of foreign currency due to non-resident beneficiaries
d.
Payment may be made in foreign currency to non-resident beneficiaries
Posted under IC 14 Regulations of Insurance Business
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Q. What is the requirement for settlement of claims under policies issued in foreign currency for resident beneficiaries?
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