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      Question

      Which of the following statements are correct with

      respect to the International Banking Units (IBUs) operating in IFSC? (i) Lender of last resort is not provided to IBUs (ii) A Banking Unit shall submit reports to the Authority in INR or USD (iii) There shall be a centralized deposit insurance scheme for deposits of a Banking Unit
      A Only ii and iii are correct Correct Answer Incorrect Answer
      B Only I and iii are correct Correct Answer Incorrect Answer
      C Only I is correct Correct Answer Incorrect Answer
      D All are correct Correct Answer Incorrect Answer
      E None is correct Correct Answer Incorrect Answer

      Solution

      A Banking Unit shall submit reports to the Authority in USD There shall be no centralized deposit insurance scheme for deposits of a Banking Unit

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