Explain the following instruments which Reserve Bank of India uses for implementing its monetary policy: Cash Reserve Ratio (CRR)
CS Executive · Economic, Business and Commercial Laws · PYQS · December 2020
Explain the following instruments which Reserve Bank of India uses for implementing its monetary policy: Cash Reserve Ratio (CRR)
Answer & Explanation:
Cash Reserve Ratio (CRR): The average daily balance that a bank is required to maintain with the Reserve Bank as a share of such per cent of its Net Demand and Time Liabilities (NDTL) that the Reserve Bank may notify from time to time in the Gazette of India.
Topics: Reserve Bank of India (RBI)
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