According to FEMA, foreign exchange does NOT include 1. Deposits payable in any foreign currency2. Bills of exchange drawn in Indian currency but payable in any foreign currency3. Traveller's cheques drawn by institutions outside India but payable in Indian currency4. Drafts drawn by banks outside India and payable in foreign currency

According to FEMA, foreign exchange does NOT include 1. Deposits paya

1.	According to FEMA, foreign exchange does NOT include 1. Deposits payable in any foreign currency2. Bills of exchange drawn in Indian currency but payable in any foreign currency3. Traveller's cheques drawn by institutions outside India but payable in Indian currency4. Drafts drawn by banks outside India and payable in foreign currency
A.	1
B.	2
C.	3
D.	4
Answer» E.

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According to FEMA, foreign exchange does NOT include 1. Deposits payable in any foreign currency2. Bills of exchange drawn in Indian currency but payable in any foreign currency3. Traveller's cheques drawn by institutions outside India but payable in Indian currency4. Drafts drawn by banks outside India and payable in foreign currency

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