GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is an Indian Depository Receipt?
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A deposit account with a Public Sector Bank
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A depository account with any of Depositories in India
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An instrument in the form of deposit receipt issued by Indian depositories
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An instrument in the form of depository receipt created by an Indian depository against underlying equity shares of the issuing company
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Explanation:
Detailed explanation-1: -Solution(By Examveda Team) A depository receipt represents shares issued in local currency. A depositary receipt (DR) is a negotiable financial instrument issued by a bank to represent a foreign company’s publicly traded securities.
Detailed explanation-2: -GDR: Notes for UPSC Economy. A Global Depository Receipt (GDR), also known as international depository receipt (IDR), is a certificate issued by a depository bank, which purchases shares of foreign companies and deposits it on the account. GDR is an important concept in the Indian Economy segment of the IAS Exam.
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