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UPSC Civil ServicesPrelims2024General Studies Paper I
Question
QQ49. 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 ?
Options
- A 1 only
- B 2 only
- C Both 1 and 2
- D Neither 1 nor 2
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Correct Answer
D Neither 1 nor 2
Model Answer
Answer: option D, as per UPSC's final answer key (Series A).