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What percentage is the statutory reserve for the banking companies?
20 percent
Explain the provision to statutory reserve given is the banking regulation act?
15 percent of profit after tax.
What you mean by statutory reserve that the banking companies are required to maintain?
It is the amount of money any bank has to maintain with the Reserve bank for every customer. Say you deposit Rs. 100 in ABC Bank, the bank cannot lend all the 100 bucks. They have to pledge a small amount say Rs. 10 with RBI and can lend only the remaining 90 and make an income out of that 90. This 10 bucks is the statutory reserve. The RBI modifies this reserve periodically.
How do you calculate the statutory reserve of a company?
what are the statutory reserves of a company?
List out the statutory companies in India?
Reserve Bank of India , Life Insurance Corporation of India , and Railways
Classification of non banking financial companies?
there are 4 types of non banking financial companies such as reserve bank of india ,HDFC,central bank and punjab national bank. they give interest about 15.5% for a year.
Who does the federal reserve offer banking services to?
The Federal Reserve offers banking services to the many banks in the United States. The Federal Reserve is where banks store large sums of money.
Is RBI a statutory body or non statutory body?
RBI is a statutory body formed under the Reserve Bank of India Act 1934 and not a constitutional body.
Importance of banking system?
What is the federal reserve and what does it do?
What is fractional reserve banking?
Fractional-reserve banking is what keeps the banks running. They must keep a certain amount of money in reserve (usually in the form of a deposit with the central bank), so that people can withdrawal their deposits.
What is statutory liqudity ratio?
Statutory liqudity ratio means all the banks maintained it in the form of cash in hand (exclusive of the minimum cash reserve ratio),Current account balances with SBI and other public sector commercial banks, unencumbered approved securities and gold. RBI prescribes SLR from 25% to 40%.
What is the central nations banking system?
Federal Reserve
