BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is governed by the provisions of Section 42 (1) of the Reserve Bank of India Act, 1934?
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Bank rate
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Reverse Repo Rate
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SLR
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CRR
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Explanation:
Detailed explanation-1: -Under section 42(1) of Reserve Bank of India Act, 1934, all Scheduled Banks are required to maintain with Reserve Bank of India a Cash Reserve Ratio (CRR) of 4% of Net Demand and Time Liabilities (NDTL).
Detailed explanation-2: -CRR is governed by the provisions of Section 42 (1) of the Reserve Bank of India Act, 1934.
Detailed explanation-3: -001/2000-01 dated November 7, 2000 advising Scheduled Commercial Banks regarding compilation of data on foreign currency assets and liabilities and revaluation thereof in Annexure A to Form A returns under section 42(2) of the Reserve Bank of India Act, 1934.
There is 1 question to complete.