BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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25%
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40%
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50%
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75%
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Detailed explanation-1: -This must amount to 75% of the demand deposit balance. The remaining 25% is to be placed as time deposits with other scheduled commercial banks. Payments banks will be permitted to make personal payments and receive cross border remittances on the current accounts. It can issue debit cards.
Detailed explanation-2: -Banks in India hold around 15% as cash with themselves and with the RBI. This cash deposit is known as ‘reserve’. This helps to ensure that there is money available to the people even if there are large spendings by the bank.
Detailed explanation-3: -The payment bank shall be required to invest a minimum 75% of its demand deposit balances in securities issued by the Government or Treasury Bills having maturity up to 1 year that is identified by RBI as eligible securities for maintenance of Statutory Liquidity Ratio (SLR).