Question
Every Parent Bank shall be permitted to establish ……………..in each International Financial Services Centre, as a branch
Solution
IFSCA (Banking) Regulations 2020  ·        Every Parent Bank shall be permitted to establish only one Banking Unit in each International Financial Services Centre, as a branch. Representative Offices shall be allowed to be set up in IFSC ·        A Parent Bank may set up its Representative Office or Global Administrative Office in IFSC under a suitable mechanism, subject to such conditions as may be specified by the Authority.
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