Multiple choice

The Reserve Bank of India (RBI) on 6 November 2013 permitted the WOS of the foreign banks to acquire the domestic private sector banks. Which of the following is true with respect to WOS?

  1. The initial capital for WOS is 500 crores.

  2. WOS will be required to meet basel -3 requirements from day one

  3. For the first 3 years WOS should maintain tier -1 capital at 10 percent

  4. All of the above options are true

  5. None of these

Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Yes this is correct choice. WOS are wholly owned subsidaries of foreign banks to acquire private banks.