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      Question

      Which of the following best defines a Shell Bank under

      RBI KYC directions?
      A A bank with operations only in foreign exchange Correct Answer Incorrect Answer
      B A bank without a physical presence in any country Correct Answer Incorrect Answer
      C A cooperative bank with no deposit insurance Correct Answer Incorrect Answer
      D A bank operated through shell companies Correct Answer Incorrect Answer
      E A bank run only through online channels Correct Answer Incorrect Answer

      Solution

      As per RBI KYC norms, a Shell Bank is a financial institution that does not have a physical presence in any jurisdiction and is not affiliated to any regulated financial group. Indian banks are prohibited from dealing with such entities.

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