Question

Where are the underlying shares of depository receipts kept, according to the Companies (Issue of Global Depository Receipts) Rules, 2014?

a.

Overseas depository bank

b.

Domestic custodian bank

c.

Reserve Bank of India (RBI)

d.

Ministry of Finance

Answer: (b).Domestic custodian bank Explanation:The underlying shares of depository receipts are kept in the custody of a domestic custodian bank, as per the rules.

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Q. Where are the underlying shares of depository receipts kept, according to the Companies (Issue of Global Depository Receipts) Rules, 2014?

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