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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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