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    Question

    Every Parent Bank shall be permitted to establish

    ……………..in each International Financial Services Centre, as a branch
    A Minimum one Banking Unit Correct Answer Incorrect Answer
    B only one Banking Unit Correct Answer Incorrect Answer
    C only two Banking Units Correct Answer Incorrect Answer
    D maximum two Banking Units Correct Answer Incorrect Answer
    E no banking unit Correct Answer Incorrect Answer

    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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