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General Studies > economy > Financial Markets
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Question 1
With reference to the rule/rules imposed by the Reserve Bank of India while treating foreign banks, consider the following statements:<br/><br/>1. There is no minimum capital requirement for wholly owned banking subsidiaries in India.<br/>2. For wholly owned banking subsidiaries in India, at least 50% of the board members should be Indian nationals.<br/><br/>Which of the statements given above is/are correct?
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