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    Question

    The IFSC Banking Unit (IBU) can be established under

    which of the following?
    A The Banking Act, 1935 Correct Answer Incorrect Answer
    B The Banking Regulation Act, 1949 Correct Answer Incorrect Answer
    C The Deposit Insurance and Credit Guarantee Corporation Act, 1961 Correct Answer Incorrect Answer
    D The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 Correct Answer Incorrect Answer
    E The Export Import Bank of India Act, 1981 Correct Answer Incorrect Answer

    Solution

    IFSC Banking Unit or an “IBU” means a bank permitted by the Reserve Bank of India under the Banking Regulation Act, 1949 to operate from an International Financial Services Centre (IFSC).

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