Money, Banking & RBI
Economic & Social Development · PYQ 2024
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?