Multiple choice

A bank is authorised by the issuing company to issue depository receipts against issue of foreign currency convertible depository receipts against issue of foreign currency convertible bonds or ordinary shares of the issuing company. This bank is called

  1. Overseas depository bank

  2. Inland depository bank

  3. Custodian bank

  4. Authorised bank
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A Correct answer
Explanation

Overseas depository bank is authorised by the issuing company to re-issue global depository receipts against issue of foreign currency convertible bonds or ordinary shares of the issuing company. 

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