Banking · Regulations and Norms
Which of the following statements correctly describe the RBI’s Comprehensive Scheme for Setting Up Wholly Owned Subsidiaries (WOS) by Foreign Banks in India? 1. Foreign banks must operate in India in only one mode — either as branches or as Wholly Owned Subsidiaries (WOS). 2. The minimum capital required to set up a WOS is ₹500 crore, to be brought in via foreign exchange remittance. 3. A WOS is not allowed to invest in Indian companies under any circumstances. 4. WOSs are required to maintain a CRAR of at least 10% for the first three years. 5. RBI mandates that at least 25% of WOS branches must be opened in Tier 5 and Tier 6 unbanked rural areas. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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1, 2, 4, and 5 only
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