Question
What are Global Depository Receipts? Discuss the main features of Reserve Bank of India's Depository Receipts Scheme 2014 for their issuance.
Answer :
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Global Depository Receipts (GDRs) are financial instruments issued by a foreign depository bank that represent ownership in the shares of a domestic company. They enable companies to raise capital from international markets without the need to list directly on foreign stock exchanges. GDRs are typically denominated in widely accepted foreign currencies, such as the US dollar or Euro, and can be traded on international markets. They provide Indian companies access to a larger pool of investors and enhance visibility and credibility in global financial markets. Investors benefit by gaining exposure to foreign companies without dealing with cross-border trading complexities. The Reserve Bank of India (RBI) introduced
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