Deposits under Foreign Currency Non-Resident(FCNR) scheme can be accepted for a minimum of________ A. Six months B. Three months C. One year D. 15 days E. None of the Above
C. One year Explanation: The deposits should be accepted under the Foreign Currency Non-Resident(FCNR) Scheme for the following maturity periods: One year and above but less than two years Two years and above but less than three years Three years and above but less than four years Four years and above but less than five years Five years only