Economics · Banking Sector Regulations
With reference to the regulations imposed by the Reserve Bank of India (RBI) regarding wholly owned banking subsidiaries of foreign banks in India, consider the following statements: 1. There is no minimum capital requirement for establishing wholly owned banking subsidiaries in India. 2. For these wholly owned banking subsidiaries, at least 50% of the board members should be Indian nationals. Which of the statements given above is/are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Neither 1 nor 2
- 2Both 1 and 2
- 32 only✓
- 41 only
Correct answer
2 only
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