BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Transactions in US Dollars
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Importers who have not submitted documentary evidence for import within stipulated time period
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Over due export bills
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Non performing assets
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Detailed explanation-1: -Statement should be submitted to RBI within 15 days from the end of the quarter.
Detailed explanation-2: -Master Circular on Export of Goods and Services G.S.R. 381(E) dated May 3, 2000 viz. Foreign Exchange Management (Current Account) Rules, 2000, as amended from time to time.
Detailed explanation-3: -v. Physical import of goods into India is made within six months (three years in case of capital goods) from the date of remittance and the importer gives an undertaking to furnish documentary evidence of import within fifteen days from the close of the relevant period.
Detailed explanation-4: -Further, in cases where goods have been imported through couriers, the Courier Bill of Entry, as declared by the courier companies to the Customs Authorities, may also be considered as evidence of import of goods.