Banking company
This query is : Resolved
29 June 2012
What is the Difference between the Cash Reserve & Statutory Reserve in respect of Banking Co.?
CA Hardik Bunha
(Expert)
29 June 2012
statutory reserve is a reserve which is created by way of any act/ law. in any circumstances company have to maintain it.
cash reserve is a reserve which is created by any benefit arise during the year.(from cash transaction). it may be more or less as per banking company requirement.
cash reserve is a reserve which is created by any benefit arise during the year.(from cash transaction). it may be more or less as per banking company requirement.
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