Question : In the context of the Indian banking system, the "Cash Reserve Ratio" is decided by_____________.
Option 1: The Reserve Bank of India
Option 2: The Ministry of Corporate Affairs
Option 3: Individual banks
Option 4: The Ministry of Finance
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Correct Answer: The Reserve Bank of India
Solution : The correct answer is the Reserve Bank of India .
The Reserve Bank of India has mandated the Cash Reserve Ratio or CRR. The Monetary Policy Committee of the RBI established CRR. The "Cash Reserve Ratio" (CRR) is the minimum amount of deposits that each commercial bank in India must maintain as a reserve, as mandated by the RBI. The RBI guidelines will be followed when setting the CRR.
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