- CRR is a mandatory deposit requirement for banks with the RBI. - It applies to Scheduled Commercial Banks. - The percentage is set by the RBI and varies over time. - It affects the liquidity available with banks for lending.
- The stated objectives included promoting social welfare, controlling credit, providing adequate credit for agriculture and small industry, and encouraging new entrepreneurs. - Indira Gandhi was the Prime Minister at the time. 103. C.R.R. instruments are applicable on
Asked in WBCS Main Paper 5 2021 · Topic: Money & Banking (Commercial Banking: Structure, Functions, and Recent Reforms in India)
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