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      Question

      Which statement about IFSC Banking units is

      INCORRECT?
      A They are required to maintain a Statutory Liquidity Ratio (SLR). Correct Answer Incorrect Answer
      B They are required to maintain a Cash Reserve Ratio (CRR) on all deposits. Correct Answer Incorrect Answer
      C They can engage in foreign currency transactions. Correct Answer Incorrect Answer
      D They are exempt from domestic regulations. Correct Answer Incorrect Answer
      E They offer banking services to non-residents primarily. Correct Answer Incorrect Answer

      Solution

      The incorrect statement regarding IFSC Banking units is that they are required to maintain a Cash Reserve Ratio (CRR) on all deposits. IFSC Banking Units operate under different regulations that exempt them from certain domestic banking requirements, including the CRR.

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