2016
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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35, 000 cr
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5, 000 cr
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40, 000 Cr
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40, 000 Lakh
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Detailed explanation-1: -As per section 11(2) of Banking Regulation Act, 1949, the banking company incorporated outside India (Foreign Bank) must maintain paid-up capital and reserves of 15 lakhs rupees and if it has a place or places of business in the city of Mumbai or Calcutta or both, 20 lakhs rupees.
Detailed explanation-2: -The Cash Reserve Ratio will go up from 3 per cent to 3.5 per cent effective from March 27, 2021, and to 4.0 percent effective from May 22, 2021. Though the permissible range of CRR rate is between 3 to 15%, the current CRR of India is 3%.
Detailed explanation-3: -The minimum paid-up equity capital for small finance banks shall be Rs. 100 crore.
Detailed explanation-4: -Repo rate is the rate by which the central bank gives loans to the commercial banks. Thus, banks borrow money from Reserve Bank Of India by Repo rate. Repo rate is also used as a monetary method to control inflation. It is increased by the central bank during inflation.