Civil Services Examination · Question 49

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 subsidiary banks (Banking Subsidiaries) in India. 2. In India, for wholly owned subsidiary banks (Banking Subsidiaries), at least 50% of the board members should be Indian citizens. Which of the statements given above is/are correct?

1. A1 only
2. B2 only
3. CBoth 1 and 2
4. DNeither 1 nor 2