DO Reserve Bank of India recognize Concept of safe keeping receipts in India through Hong Shanghai Banking Corporation?

The Reserve Bank of India (RBI) does not explicitly recognize the concept of safe keeping receipts (SKRs) as a formal financial instrument within its regulatory framework. However, banks like Hong Kong Shanghai Banking Corporation (HSBC) may offer SKRs as part of their services related to custody and asset management. These receipts represent ownership of stored assets but are subject to the regulatory environment and practices in India. It is advisable for individuals and businesses to consult with financial and legal experts for specific guidance on such instruments.