Thursday, June 29, 2017

What is the utilization of fund in NFCD Account ?



Answer:
Ø  After maturity , AD can freely transfer any amount with interest any where of the world by FTT, FDD etc as per request of the account holder
Ø  Account holder use the FC for travel purpose in the form of Travelers cheque & cash form
Ø  Account holder can encash the FC in local currency
Ø  FC may be transfer to another F/C/NFCD account
Ø  To meet the import obligation

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