Discussion
Global depository receitps are issued by :
Answer: C
Global depository receipts are issued by a depository bank.
When an Indian company raises money through GDRs, it issues shares to an overseas depository bank, which holds them through a domestic custodian bank in India. The depository bank then issues GDRs, each representing a fixed number of those shares, to investors abroad, and the receipts are listed on exchanges such as London or Luxembourg and traded in foreign currency.
America is not an issuer; receipts issued in the US market are ADRs. A 'depository country' is not an issuing body. Investors buy GDRs; they do not issue them.
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