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      Question

       IFSC Banking units are NOT covered under which of the

      following?
      A Deposit Insurance Scheme Correct Answer Incorrect Answer
      B Centralized Deposit Insurance Scheme Correct Answer Incorrect Answer
      C Foreign Exchange Management Act Correct Answer Incorrect Answer
      D Prevention of Money Laundering Act Correct Answer Incorrect Answer
      E Banking Regulation Act Correct Answer Incorrect Answer

      Solution

      IFSC Banking units are not covered under the Centralized Deposit Insurance Scheme. This indicates that deposits in IFSC Banking Units are not insured like those in domestic banks.

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