____________ is a type of Depository Receipt (DR) issued

Q: Answer-____________ is a type of Depository Receipt (DR) issued by a depositary bank without the explicit i...

Unsponsored Depository Receipts UDRs are a type of Depository Receipt DR issued by a depositary bank without the explicit involvement or consent of the foreign company whose shares are represented by the DRs. As such, UDRs are floated without the participation of the issuer company . In India, NSE IFSC National Stock Exchanges International Financial Services Centre in GIFT City provides trading in US stocks in the form of unsponsored depositary receipts without the direct involvement or sponsorship of the underlying foreign company.

by a depositary bank without the explicit involvement or consent of the foreign company whose shares are represented by the DR .

A Non-participatory Depository Receipts Correct Answer Incorrect Answer

B Non-convertible Depository Receipts Correct Answer Incorrect Answer

C Unsecured Depository Receipts Correct Answer Incorrect Answer

D Unsponsored Depository Receipts Correct Answer Incorrect Answer

E Unauthorized Depository Receipts Correct Answer Incorrect Answer

Solution

Unsponsored Depository Receipts (UDRs) are a type of Depository Receipt (DR) issued by a depositary bank without the explicit involvement or consent of the foreign company whose shares are represented by the DRs.  As such, UDRs are floated without the participation of the issuer company . In India, NSE IFSC (National Stock Exchange's International Financial Services Centre) in GIFT City provides trading in US stocks in the form of unsponsored depositary receipts without the direct involvement or sponsorship of the underlying foreign company.

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