Question
EconomyBanking, Credit and Financial InclusionBanking Regulation and Prudential NormsHard (editorial estimate)
Question details
- Type:
- Statement based
- Skill:
- Fact recall
- Tags:
- Foreign banks · RBI rules · Wholly owned subsidiaries
Classification and difficulty are editorial labels. Explanations are awaiting review.
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With reference to the rule/rules imposed by the Reserve Bank of India while treating foreign banks, consider the following statements: 1. There is no minimum capital requirement for wholly owned banking subsidiaries in India. 2. For wholly owned banking subsidiaries in India, at least 50% of the board members should be Indian nationals. Which of the statements given above is/are correct?
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Question 49 · Banking Regulation and Prudential Norms · Economy · UPSC Prelims 2024 (GS)