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      Question

      Match the following banks with their recent developments

      related to GIFT City’s IFSC Banking Units (IBUs): Which of the following is the correct matching?
      A A–1, B–2, C–4, D–5, E–3 Correct Answer Incorrect Answer
      B A–5, B–1, C–2, D–4, E–3 Correct Answer Incorrect Answer
      C A–1 & 5, B–2, C–4, D–4, E–3 Correct Answer Incorrect Answer
      D A–1 & 5, B–2, C–4, D–4, E–3 Correct Answer Incorrect Answer
      E A–1, B–2, C–4, D–3, E–5 Correct Answer Incorrect Answer

      Solution

      • A. CTBC Bank (Taiwan): Taiwan’s largest private bank, present in India since 1996, has applied to set up an IBU in GIFT City, planning to occupy 3100 sq. ft. in Brigade Towers. → (5) • B. Taipei Fubon Bank: Another Taiwanese bank that has sought approvals for IBU in GIFT City. → (1) • C. Mashreq Bank (UAE): Has also sought IBU approvals. → (2) • D. First Abu Dhabi Bank: From UAE, among those that have received/processed approvals for IBU operations. → (4) • E. Standard Chartered & Axis Bank: These established players have expanded their office space in GIFT IFSC to tap into growing opportunities. → (3)

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