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With reference to Collective Investment Scheme (CIS), consider the following statements:
In India, the definition of CIS includes mutual funds and unit trust schemes.
CISs are regulated by the Reserve Bank of India.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'D'. Can you explain this answer?
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Most Upvoted Answer
With reference to Collective Investment Scheme (CIS), consider the fo...
- A Collective Investment Scheme (CIS), as its name suggests, is an investment scheme wherein several individuals come together to pool their money for investing in a particular asset(s) and for sharing the returns arising from that investment as per the agreement reached between them prior to pooling in the money.
- In India, the definition of CIS excludes mutual funds or unit trust schemes etc and is given a strict definition in Section 11AA of the SEBI Act, 1992. Hence, statement 1 is not correct.
- According to Section 11AA of the SEBI Act, CIS is any scheme or arrangement, which satisfies the following conditions:
- the contributions, or payments made by the investors, by whatever name called, are pooled and utilized solely for the purposes of the scheme or arrangement;
- the contributions or payments are made to such scheme or arrangement by the investors with a view to receive profits, income, produce or property, whether movable or immovable, from such scheme or arrangement;
- the property, contribution or investment forming part of scheme or arrangement, whether identifiable or not, is managed on behalf of the investors;
- the investors do not have day to day control over the management and operation of the scheme or arrangement.
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With reference to Collective Investment Scheme (CIS), consider the following statements: In India, the definition of CIS includes mutual funds and unit trust schemes. CISs are regulated by the Reserve Bank of India. Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer?
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With reference to Collective Investment Scheme (CIS), consider the following statements: In India, the definition of CIS includes mutual funds and unit trust schemes. CISs are regulated by the Reserve Bank of India. Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to Collective Investment Scheme (CIS), consider the following statements: In India, the definition of CIS includes mutual funds and unit trust schemes. CISs are regulated by the Reserve Bank of India. Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to Collective Investment Scheme (CIS), consider the following statements: In India, the definition of CIS includes mutual funds and unit trust schemes. CISs are regulated by the Reserve Bank of India. Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer?.
With reference to Collective Investment Scheme (CIS), consider the following statements: In India, the definition of CIS includes mutual funds and unit trust schemes. CISs are regulated by the Reserve Bank of India. Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to Collective Investment Scheme (CIS), consider the following statements: In India, the definition of CIS includes mutual funds and unit trust schemes. CISs are regulated by the Reserve Bank of India. Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to Collective Investment Scheme (CIS), consider the following statements: In India, the definition of CIS includes mutual funds and unit trust schemes. CISs are regulated by the Reserve Bank of India. Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer?.
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