Question

Which condition must be met by custodian banks to issue

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.

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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RBI Grade B

Which condition must be met by custodian banks to issue

Solution

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