Foreign bank means a bank.....begin{enumerate}item That has been incorporated outside Indiaitem That has its 51% or more branches outside Indiaitem Whose more than 51% equity capital is owned by foreigner.end{enumerate}

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Foreign bank means a bank____

A	Only 1
B	1 and 2
C	2 and 3
D	All the above

Explanation:

Detailed explanation-1: -Approval of the Reserve Bank in certain cases (2) Application for direct investment in Joint Venture/Wholly Owned Subsidiary outside India, or by way of exchange for shares of a foreign company, shall be made in Form ODI, or in Form ODB, as applicable.

Detailed explanation-2: -Repatriation means remitting money back to the host country. Non-Repatriation means that remittance of sale proceeds (Original Investment plus Capital Gains) is not permitted. Such money can-not be remitted outside India without prior approval of RBI.

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