Banking · Executor and Trustee Services Regulations
Which regulatory requirement must banks in India fulfill when providing fiduciary services such as acting as an Executor or Trustee for corporate clients?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Limit services only to clients maintaining a minimum current account balance of 5 Crore Rupees.
- 2Provide these services free of charge as part of social banking obligations.
- 3Ensure that these activities are conducted through a separate arm's-length subsidiary or dedicated department to avoid conflict of interest with lending operations.✓
- 4Obtain a separate license from IRDAI.
Correct answer
Ensure that these activities are conducted through a separate arm's-length subsidiary or dedicated department to avoid conflict of interest with lending operations.
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