alleryStart learning →Money from foreign banks and governments is treated how?
ACounted as deposits
BCounted if unsecured
CExcluded, subject to FEMA
DCounted above Rs 25 lakh
Answer & Solution
Correct answer: C. Excluded, subject to FEMA
Receipts from foreign governments, banks and persons resident outside India are excluded, subject to FEMA, 1999 and its rules.
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Related questions
Where must a company inviting public deposits upload the circular?A deposit circular stays valid for how long after the financial year closes (at most)?Who signs the circular copy sent to the Registrar under Rule 4(5)?On whose authority and name must a deposit circular be issued?An eligible company's public deposit circular is issued in which form?A section 73(2) company can send its member circular by which mode?After issuing the circular, what may a company not reserve a right to do?Who alone is entitled to brokerage on deposits procured for a company?