As part of the liberalization programme and with a view to attract foreign exchange, the Government and the RBI have, devised two schemes known as FCNR 'A' and FCNR 'B'. Which of the following is/are true regarding these two schemes?

1. Under scheme 'A' RBI bears exchange rate fluctuations.

2. Under scheme 'B' other banks are to meet out the difference in exchange rate fluctuations.

3. Both the schemes stand withdrawn now.

4. Only scheme 'A' has been withdrawn.

Codes :

IAS (Pre) 1995