Economics · Monetary Policy
Which one among the following options correctly defines Cash Reserve Ratio (CRR)?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Percentage of additional charges levied per year on loans and credit facilities.
- 2Percentage of interest paid by banks on Savings Accounts.
- 3Percentage of funds held in reserve by a mortgage company to pay taxes or insurance.
- 4Percentage of total deposits that commercial banks must keep as cash reserves with the Central Bank (RBI).✓
Correct answer
Percentage of total deposits that commercial banks must keep as cash reserves with the Central Bank (RBI).
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