Who is/are eligible to open an EEFC Account?
Important Questions on Mock Test - SBI PO
RBI relaxes KYC norms for opening bank accounts as follows :
1. RBI has asked banks to allow a self-certified copy of the documents by mail or post for opening an account.
2. Banks have also been asked not to seek fresh documents if a KYC-compliant customer desires to open another account in the bank.
3. If the customers are unable to fulfill within a reasonable period, partial freezing may be introduced for KYC noncompliant customers. This means that only credits would be allowed in such accounts, but debits would not be allowed. The account holder would have the option to close the account and take back the money in the account.
Choose the correct options.
Consider the following statements related to SEZ:
1. It is a duty-free enclave to be treated as foreign territory for the purposes of trade operations and duties and tariffs.
2. The corporation in SEZs will not have to pay any income tax on their profits for the first five years and only 50% of the tax for 2 more years thereafter.
3. A SEZ does not require a license for exports.
Which of the above statements are true?
