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What is an Indian Depository Receipt ?

A deposit account with a Public sector Bank
A depository account with any of the Depositories in india
An instrument in the form of depository receipt created by an Indian depository against underlying equity shares of the issuing company
An instrument in the form of deposit receipt issued by indian depositories

Correct Answer: An instrument in the form of depository receipt created by an Indian depository against underlying equity shares of the issuing company

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