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Question
CRR is ______
Options
The percentage of total deposits that the banks have to keep in the form of cash.
The percentage of total deposits that the banks have to keep with the RBI.
Both The percentage of total deposits that the banks have to keep in the form of cash and The percentage of total deposits that the banks have to keep with the RBI.
None of the above
MCQ
Fill in the Blanks
Solution
CRR is both The percentage of total deposits that the banks have to keep in the form of cash and The percentage of total deposits that the banks have to keep with the RBI. Explanation:
The Cash Reserve Ratio (CRR) is the amount of money that banks must keep with the Reserve Bank of India.
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