A
2 only
B
Both 1 and 2
C
Neither 1 nor 2
D
1 only
Correct answer: (a) 2 only
Explanation
Statement 1 is incorrect because FCNR(B) deposits can be opened only as term deposits, not as savings or current accounts. Statement 2 is correct as commercial banks utilized these deposit routes along with the RBI's forex swap window to replace high-cost liabilities. Therefore, only statement 2 is correct.
Same topic · past papers
UPSC has asked this before
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