Attempt this previous-year question. The correct option stays hidden until you choose.
With reference to the rule/rules imposed by the Reserve Bank of India while treating foreign banks, consider the following statements:
1. There is no minimum capital requirement for wholly owned banking subsidiaries in India.
2. For wholly owned banking subsidiaries in India, at least 50% of the board members should be Indian nationals.
Which of the statements given above is/are correct?
Pick an option to check yourself.
• Correct Answer: B
• Statement 1 is incorrect: RBI mandates a minimum paid-up capital of Rs. 500 crore for wholly owned banking subsidiaries.
• Statement 2 is correct per official answer key: at least 50% of board members should be Indian nationals, NRIs, or PIOs with one-third resident in India.
Attempt Prelims MCQs or open Mains questions by paper — then continue the same bank inside the app with visual decks.
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