New 👉 Ask your RBI Grade B 2025 Preparation Queries Here!!

    Question

    As per the IFSCA Circular on January 22, 2024, which

    country code must Authorized Dealer (AD) Banks use when reporting transactions between Domestic Tariff Areas (DTA) and IFSCs?
    A IN Correct Answer Incorrect Answer
    B US Correct Answer Incorrect Answer
    C FC Correct Answer Incorrect Answer
    D GB Correct Answer Incorrect Answer
    E AD Correct Answer Incorrect Answer

    Solution

    AD Banks are required to use the country code 'FC' (Foreign Country) when reporting transactions between Domestic Tariff Areas (DTA) and International Financial Services Centres (IFSCs).

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