Question

Which condition must be met by custodian banks to issue IPCs, according to the revised RBI guidelines?

Q: Answer-Which condition must be met by custodian banks to issue IPCs, according to the revised RBI guideline...

Custodian banks are allowed to issue IPCs only if they have agreements that give them an inalienable right over client securities for payout, unless the transactions are pre-funded.

A Custodian banks must have an agreement providing an inalienable right over client securities.

B All transactions must be pre-funded by the clients.

C Only banks with existing nostro accounts can issue IPCs.

D Banks must have a minimum capital reserve specified by the RBI.

E IPCs can be issued only if the securities involved are equity-based.

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Which condition must be met by custodian banks to issue IPCs, according to the revised RBI guidelines?

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