alleryCRR is maintained by banks under which provision?
ASection 42(1) of RBI Act
BSection 24 of BR Act
CSection 45ZB of RBI Act
DSection 31 of RBI Act
Answer & Solution
Correct answer: A. Section 42(1) of RBI Act
1. The question asks: CRR is maintained by banks under which provision.
2. Correct answer: Section 42(1) of RBI Act.
3. Section 42(1) of the RBI Act mandates the Cash Reserve Ratio.
_Source: BOI Quick Revision — General Banking & Financial Awareness (2020), RBI Act §42(1)_
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