Question : In India, _____fixes the Cash Reserve Ratio(CRR) for the banks in the economy.
Option 1: Reserve Bank of India
Option 2: Ministry of Finance
Option 3: Ministry of External Affairs
Option 4: State Bank of India
Correct Answer: Reserve Bank of India
Solution : The correct answer is the Reserve Bank of India .
The Reserve Bank of India has mandated that commercial banks hold a certain portion of their total deposits as reserves, known as the cash reserve ratio, or CRR. The Reserve Bank of India has mandated that banks avoid circumstances in which they lack the necessary funds to repay loans that they have made over what they are worth.
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