GK
BANKING AWARENESS AND SEBI
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Which of the following tools is used by the RBI to control credit and monetary situations of the markets?
|
|
ECS
|
|
|
NEFT
|
|
|
CRR
|
|
|
RTGS
|
Explanation:
Detailed explanation-1: -The Cash Reserve Ratio (CRR) is the percentage of total deposits a bank must have in cash to operate risk-free. The Reserve Bank of India decides the amount and is kept with them for financial security. The bank cannot use this amount for lending and investment purposes and does not get any interest from the RBI.
Detailed explanation-2: -Cash reserve ratio (CRR) is the percentage of a bank’s total deposits that it needs to maintain as liquid cash. This is an RBI requirement, and the cash reserve is kept with the RBI.
There is 1 question to complete.