According to the RBI Report, India banking system reported total deposits of uline{1cm} for the first time ever in September month of this year.

2016

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

According to the RBI Report, India banking system reported total deposits of _________ for the first time ever in September month of this year.

A	Rs 100 lakh crore
B	Rs 1000 lakh crore
C	Rs 10000 crore
D	Rs 100000 crore

Explanation:

Detailed explanation-1: -On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (September 30, 2022) decided to: Increase the policy repo rate under the liquidity adjustment facility (LAF) by 50 basis points to 5.90 per cent with immediate effect.

Detailed explanation-2: -The RBI has followed a July-June financial year since 1940 when it moved away from a January-December year. RBI will start following April-March financial year after a nine-month year ending March 31, 2021.

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