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  • Question
  • Reserve Bank of India has permitted Re-insurance and Composite Insurance brokers to open which account for undertaking transactions?


  • Options
  • A. NRI Account
  • B. Foreign Currency Accounts
  • C. DEMAT Account
  • D. Recurring Deposit Account

  • Correct Answer
  • Foreign Currency Accounts 

    Explanation
    The Reserve Bank of India sanctioned reinsurance brokers to initiate non-interest bearing foreign currency accounts with banks for undertaking transactions. The Insurance Regulatory and Development Authority of India (IRDA) had issued notification and following this the RBI declared Foreign Exchange Management (Foreign Currency Accounts by a resident person in India) Regulations, 2015 - Opening of Foreign Currency Accounts by Re-insurance and Composite Insurance brokers. Foreign currency account refers to a bank account operated in currency other than the currency of India or Bhutan or Nepal.

  • More questions

    • 1. Which centre won an award for Outstanding Contribution to Gold Policy Research in 2017-18 at the 15th India International Gold Convention held in Kochi?

    • Options
    • A. India Gold Policy Centre (IGPC), IIM Ahmedabad
    • B. Centre for Research on Gold (CRG), IIT Madras
    • C. Indian Institute for Gold Policy (IIGP), IIM Kozhikode
    • D. Centre for Gold Policy Formulation (CGPF), IIM Mumbai
    • Discuss
    • 2. Scientists have developed a wireless 'in-body GPS' which helps to track tumours inside the body. It is named as;

    • Options
    • A. Delta
    • B. Atlas
    • C. ReMix
    • D. Atlas
    • Discuss
    • 3. Which bank launched India's first 'Green Car Loan' (Electric Vehicle) to encourage customers to buy electric vehicles?

    • Options
    • A. Canara Bank
    • B. Axis Bank
    • C. HDFC Bank
    • D. State Bank of India
    • Discuss
    • 4. Which of the following become the first national legislative body in the world to declare a climate change emergency?

    • Options
    • A. Mexico
    • B. Italy
    • C. UK
    • D. India
    • Discuss
    • 5. When did the Rajasthan Diwas was observed?

    • Options
    • A. 29th March
    • B. 1st April
    • C. 30th March
    • D. 31st Mmarch
    • Discuss
    • 6. Which nation withdrews its nuclear agreement from JCPOA?

    • Options
    • A. Germany
    • B. Russia
    • C. Iran
    • D. France
    • Discuss
    • 7. Who has discovered an Earth-sized planet, HD 21749b using Transiting Exoplanet Survey Satellite?

    • Options
    • A. ISRO
    • B. NASA
    • C. SpaceX
    • D. JAXA
    • Discuss
    • 8. Name the Japanese unmanned spacecraft, that probes Asteroid Ryugu and discoverd small amount of minerals containing water on the surface of the asteroid?

    • Options
    • A. Hiten
    • B. Hayabusa2
    • C. Akatsuki
    • D. SELENE
    • Discuss
    • 9. Which of the following is the first Artificial Intelligence (AI) powered robot to fly in Space, which made an interaction with the spacefaring crew of International Space Station?

    • Options
    • A. CIMON
    • B. SFIB
    • C. RAID
    • D. IE
    • Discuss
    • 10. How much percent of life insurer's premium income was grown for the year 2019, as per Insurance Regulatory and Development Authority of India (IRDAI)?

    • Options
    • A. 15%
    • B. 14%
    • C. 13%
    • D. 11%
    • Discuss


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