Discussion
According to RBI Act, what minimum amount of balance on every friday needs to be maintained by Government of India with Reserve Bank of India?
Answer: D
Correct answer: Rs 100 crore
On Fridays, and at the close of the Government's financial year, the minimum balance rises from Rs 10 crore to Rs 100 crore.
Friday is the reporting date for the banking system, when balances are struck and returns made, so the higher floor ensures the position is comfortable at the moment it is measured. The year-end requirement serves the same purpose for the annual accounts. Between those dates the ordinary Rs 10 crore minimum applies, with Ways and Means Advances available to maintain it.
No comment is present. Be the first to comment.
Loading…
Post your comment
Please log in or register to post a comment.
Examination Categories
- SSC Exams
- Banking Exams
- Teaching Exams
- Civil Services Exams
- Railways Exams
- Engineering Recruitment Exams
- Defence Exams
- State Government Exams
- Police Exams
- Insurance Exams
- Nursing Exams
- Other Government Exams
- NRA CET
- PG Entrance Exams
- Campus Placement
- MBA Entrance Exams
- CUET and UG Entrance
- Judiciary Exams
- Regulatory Body Exams
- Software Development