BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Section 24 of Banking Regulation Act, 1949, belongs to ____
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Statutory liquidity Ratio
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Cash Reserve Ratio
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Licence
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Deposit
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Explanation:
Detailed explanation-1: -2. The cash management bill shall be treated as Government of India Treasury Bill and thus be reckoned as SLR security. Total NDTL for the purpose of SLR under Section 24 (2A) of Banking Regulation Act, 1949, shall be computed on the similar procedure as followed for CRR.
Detailed explanation-2: -Statutory Liquidity Ratio or SLR is the minimum percentage of deposits that a commercial bank has to maintain in the form of liquid cash, gold or other securities. It is basically the reserve requirement that banks are expected to keep before offering credit to customers.
Detailed explanation-3: -The current SLR rate is 18.00%.
There is 1 question to complete.