Under the present currency convertibility norms in country which amongst the following is possible 1...........

Economic Affairs Balance of Payments

Under the present currency convertibility norms in country, which amongst the following is possible:

1. For trade activity rupee can be converted to dollars without any permission from regulators.

2. For buying a overseas company prior permission of regulatory authority is required to convert rupees to dollars above a certain limit.

Select the correct codes:

Both 1 and 2

1 only

2 only

None is correct

Both the statements are correct regarding Currency convertibility norms in country.

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