In the context of banking, the Statutory Liquidity Ratio (SLR) is maintained in the form of:
A. Only foreign exchange
B. Only equity shares
C. Only cash
D. Cash, gold and approved securities
Answer: Option D
Solution (By JKSSB Mock Tests)
Banks are required to maintain SLR in the form of cash, gold or unencumbered approved securities as a percentage of their Net Demand and Time Liabilities.
Explanation:
Taxes are classified as progressive (rate rises with income), proportional (constant rate) or regressive (rate falls with income) according to their effect on income distribution.
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