LS0946: Mr. Mahajan has his sons as well as many relatives settled in foreign countries, due to which there used to be frequent transactions in foreign currency. He was also interested in making investments in the foreign countries. He was not very sure if he will be eligible to open foreign currency account and also will it be beneficial for him. He decided to approach his friend who had just retired from a bank. If you are his friend, help him to find answer to his queries

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Question: Mr. Mahajan has his sons as well as many relatives settled in foreign countries, due to which there used to be frequent transactions in foreign currency. He was also interested in making investments in the foreign countries. He was not very sure if he will be eligible to open foreign currency account and also will it be beneficial for him. He decided to approach his friend who had just retired from a bank. If you are his friend, help him to find answer to his queries.


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