📝 One-liners · 66 cards
Forex, NRI Ac, NRE ,NRO, FCNR, NOSTRO, VOSTRO, LORO, FEMA, Exchange Mechanism, CDF, Bank Guarantee, DPG, EEFC AC
What is a Nostro account?
A Nostro account is an account that a domestic bank holds in a foreign bank in the currency of that foreign country. The term 'Nostro' comes from Latin meaning 'ours' — our account with you.
What is the meaning of 'Nostro' in Latin?
'Nostro' means 'our account with you'.
What is a Vostro account?
A Vostro account is an account that a foreign bank holds with a domestic bank in the domestic currency. 'Vostro' means 'yours' in Latin — your account with us.
What is the maximum tenure for an FCNR(B) deposit?
Maximum tenure is five years.
🔒
Unlock 66 revision one-liners
Interactive flashcard deck — flip every card to drill questions and answers, mark the ones you got wrong, and revise smarter for Forex, NRI Ac, NRE ,NRO, FCNR, NOSTRO, VOSTRO, LORO, FEMA, Exchange Mechanism, CDF, Bank Guarantee, DPG, EEFC AC.
🪙
Unlock cost
300 coins
30-day access · re-unlocks free for 30 days