Q576
According to FEMA, foreign exchange does NOT include
A.
Deposits payable in any foreign currency
B.
Bills of exchange drawn in Indian currency but payable in any foreign currency
C.
Travellers cheques drawn by institutions outside India but payable in Indian currency
D.
Drafts drawn by banks outside India and payable in foreign currency
AnswerAnswer: Option D
Solution
Answer: Option D
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