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    Question

    According to Rule 12 of the IFSCA (Banking) Regulation,

    2020 cash transactions in foreign currency accounts __________.
    A Shall be permitted Correct Answer Incorrect Answer
    B Shall not be permitted Correct Answer Incorrect Answer
    C Shall be partly permitted and partly not Correct Answer Incorrect Answer
    D Shall be permitted if the Authority deems fit Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Shall not be permitted, Explanation: Rule 12. Transactions through foreign currency accounts (1)Cash transactions in foreign currency accounts shall not be permitted.

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