📝 One-liners · 66 cards
MEANING OF RFC(D) ACCOUNT, WHO CAN OPEN THIS, PRESENT FORM OF THE ACCOUNT, ELIGIBLE CREDITS, ELIGIBLE DEBITS, MONTH-END CONVERSION RULE, JOINT
What does RFC(D) stand for in the context of foreign exchange accounts?
RFC(D) stands for Resident Foreign Currency (Domestic) Account, a special account permitted by RBI for resident individuals to hold foreign currency earnings domestically.
What is the full form of RFC(D) account?
Resident Foreign Currency (Domestic) account
Who is eligible to open an RFC(D) account under FEMA regulations?
A resident individual who has received foreign exchange from permissible sources such as foreign travel encashment proceeds, honoraria, gifts, or earnings received abroad is eligible to open an RFC(D) account.
Under which act is the RFC(D) account regulated in India?
Foreign Exchange Management Act (FEMA), 1999
🔒
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 MEANING OF RFC(D) ACCOUNT, WHO CAN OPEN THIS, PRESENT FORM OF THE ACCOUNT, ELIGIBLE CREDITS, ELIGIBLE DEBITS, MONTH-END CONVERSION RULE, JOINT.
🪙
Unlock cost
300 coins
30-day access · re-unlocks free for 30 days