Q11 Vimal, an NRI working in Germany, earns his salary in Euros. He is concerned about the fluctuation of the Indian Rupee, and wants to invest his savings in India, without exposing his principal to exchange rate risk. He decides to open a Foreign Currency Non-Resident (Bank) [FCNR(B)] account. Which of the following statements, regarding this account, are correct? Q12 Leena opens an FCNR(B) Fixed Deposit, for a tenure of 3 years. After 2 years, she returns to India permanently, and becomes a resident. She asks her banker, about the status of her deposit. Which of the following statements, correctly describe the rules applicable to her situation? Q13 Arjun requires funds for a business venture in India, and decides to avail a loan against his FCNR(B) deposit. He consults the bank, regarding the loan terms. Which of the following conditions, apply to such loans? Q14 Priya, an NRI, wishes to open joint accounts with her mother, who is a resident of India. She explores two options: an NRE account, and an NRO account. She specifically wants to know, about the operating mandates allowed for these joint accounts. Which of the following statements, correctly describe the regulations? Q15 Rita holds a USD 50,000 FCNR(B) Fixed Deposit, with a tenure of 3 years. One year into the term, she faces a liquidity crunch in India. She approaches the bank, to discuss her options. Which of the following statements, correctly outline the rules for managing this deposit? Q16 Sagar holds a diverse portfolio including NRE Fixed Deposits, NRO Fixed Deposits, and an FCNR(B) deposit. He requires a loan of ₹50 lakhs to purchase a flat in Mumbai, and approaches his bank to avail a loan against these deposits. Which of the following statements, correctly describe the loan regulations across these account types? Q17 Ajay decides to transfer ₹10 lakhs from his NRE savings account to his NRO savings account, to pay for local renovation expenses. Later, he wishes to move the remaining unspent amount back to his NRE account. He consults his banker, regarding the implications of the initial transfer. Which of the following statements are correct?