The false statement is "GDR is a negotiable instrument issued by a US bank."GDR is a negotiable bill, but it is not issued by a US bank. The ADR is issued by the US Basel Bank. Global Depository Receipt:A Global Depository Receipt (GDR), also known as an international depository receipt (IDR), is a certificate issued by a depository bank that purchases foreign company shares and deposits them on an account.Important Points Features of a GDR:It's a freely tradeable instrument that can be exchanged like any other security.By the use of a GDR, Indian enterprises with a three-year financial track record can easily gain access to global financial markets. Clearances from the Foreign Investment Promotion Board (FIPB) and the Ministry of Finance are required.GDRs are issued by international banks such as JP Morgan, Chase, Citigroup, Deutsche Bank, etc.GDRs are issued to investors all throughout the country since they can be denominated in a variety of freely convertible currencies.The GDR can be denominated in any foreign currency, but the underlying shares will be in the issuer's native currency.