Which one of the following is not a deposit product of our Bank for NRI

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Rupee Linked Foreign Currency Deposit
B	Non Resident (ordinary) current account
C	Returning Indians Foreign Currency Account
D	Foreign Currency Denominated Non Resident-Savings Deposit

Explanation:

Detailed explanation-1: -FCNR account stands for Foreign Currency Non-Resident Bank (B) account. An FCNR account allows NRIs to invest foreign currency in term deposits in India and earn tax-free interest.

Detailed explanation-2: -FCNR is an account that allows you to save money earned overseas in a foreign currency in a term deposit. As an NRI, you can open your NRE, NRO and FCNR account online.

Detailed explanation-3: -A Foreign Currency Non-Resident (FCNR) account is a term account that allows NRIs to deposit money in any of the nine currencies allowed by RBI. The nine currencies that this account accepts deposits are USD, GBP, AUD, SGD, CAD, CHF, HKD, EUR, JPY. An FCNR(B) account is a term deposit account and not a savings account.

Detailed explanation-4: -Here are the types of bank accounts an NRI can open in India: Non-Resident (External) Rupee Account (NRE account) Non-Resident (Ordinary) Rupee Account (NRO account) Foreign Currency (Non-Resident) Account (FCNR account)

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