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CS Professional · Strategic Management and Corporate Finance · An Overview on Listing and Issuance of Securities in International Financial Services Centre

Under the International Financial Services Centres Authority Act, 2019, which one of the following is NOT listed within the definition of 'financial product'?

Immovable property held in an IFSC is not a financial product under the IFSCA Act, 2019. The definition lists securities, insurance contracts, deposits, credit arrangements, certain foreign currency contracts and any other notified product, but real estate is not included.

  1. ASecurities
  2. BContracts of insurance
  3. CImmovable property held in an IFSCCorrect
  4. DForeign currency contracts other than contracts to exchange one currency for another that are to be settled immediately

Explanation

The definition of financial product covers securities, contracts of insurance, deposits, credit arrangements, certain foreign currency contracts and any other product notified by the Central Government. Immovable property is not named in the definition. The foreign currency contracts option is a listed item, so it is wrong as the answer.

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