Multiple choice

Foreign bank means a bank�

  1. That has been incorporated outside India
  2. That has its 51% or more branches out side India
  3. Whose more than 51% Equity Capital is owned by foreign persons

  1. 1

  2. 1 and 2

  3. 2 and 3

  4. 1, 2 and 3
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A foreign bank is defined as a bank incorporated outside India that has a branch or place of business in India. The other statements are not standard legal definitions for a foreign bank.

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