Question
Download Solution PDFWhat is the full form of SLR in the context of economics?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is Statutory Liquidity Ratio.
Key Points
- SLR- Statutory Liquidity Ratio
- It is a kind of reserve that the commercial banks need to maintain before crediting their money to the borrowers.
- Regulating the SLR rates is a component of RBI's monetary policy.
- Reserve Bank of India sets the limit for banks (under Banking Regulation Act, 1949) to hold a certain proportion of their assets as SLR.
- The following types of assets can be reserved by banks as SLR:
- Cash or gold (highly liquid assets)
- RBI approved government securities
- Any other asset as specified by RBI
- It is mandatory for all the Scheduled Commercial banks, Central and State cooperative banks, and deposit accepting Non-Banking Financial Companies (NBFCs).
- NBFCs (which do not accept deposits), Primary Agricultural Credit Society (PACS), and Regional Rural Banks (RRBs) don't fall under the mandate of SLR.
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