As per the Banking Regulation Act – 1949, All Banks in India shall maintain a Reserve Fund/Statutory Reserve equivalent to _______ of their annual net profit.

Q. As per the Banking Regulation Act – 1949, All Banks in India shall maintain a Reserve Fund/Statutory Reserve equivalent to _______ of their annual net profit.

(a) 5%

(b) 25%

(c) 10%

(d) 20%

Answer.

(d) 20%

Solution.

(d) 20%