Question

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

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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