Q. NOSTRO account means . (Solved)
1. An account opened by foreign citizens other than NRIs in India with Indian banks in INR for their expenses in Indi
2. An account opened by foreign citizens other than NRIs in India with foreign banks in foreign currency to convert Indian rupee to that currency and remit back to their own country.
3. An account opened by an Indian bank in the foreign countries in their banks and in that country currency for settlement in that country's currency.
4. An account opened by a foreign bank in India with their corresponding banks in INR for settlements in INR.
5. None of these
- c. An account opened by an Indian bank in the foreign countries in their banks and in that country currency for settlement in that country's currency.