Banking · Financial Services provided by Banks

Consider the following statements regarding RBI Master Directions on Para-Banking and Capital Market Exposure limits: Statement I: A bank's investment in its subsidiary shall not exceed ten percent of the bank's paid-up capital and reserves, and the total of all such investments in all subsidiaries and financial services companies shall not exceed twenty percent of the paid-up capital and reserves. Statement II: Banks are permitted to set up a subsidiary for insurance brokerage and are not restricted to acting as corporate agents, provided they maintain an arm's length relationship. Statement III: In the case of investment in a Venture Capital Fund (VCF), a bank's exposure is limited to ten percent of the VCF's corpus. Statement IV: White Label ATMs are set up, owned, and operated by non-bank entities, but a bank can act as a sponsor bank for cash management and settlement processes. Statement V: A bank's subsidiary is strictly prohibited from holding any shares in its parent bank. Which of the statements given above are correct?