Legal Reserve Ratio (LRR) is that ratio of deposits which banks are legally bound to keep in the form of cash with themselves and with the Central Bank
Correct Answer - True The percentage ( ratio ) of deposits that banks keep with themselves is called SLR and what they keep with Central Bank is called CRR.
Legal Tender Money
Non-Legal Tender Money
(i) Legal Tender Money is the money that is backed by law and refusal to accept will be punishable by law.
(i) Non-legal tender money is the...
The main object of a commercial bank is to accept deposits and lending money to customers or account holders:
To encourage the people who have surplus funds.
To encourage the saving habit...
The basic aim of the bank is to pool the excess money to the bank and develop the habit of saving amount people.
Bank accepts deposits in two forms i.e. Demand...
