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sstatutory reserve

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(Querist)
23 July 2009
What are the provisions relating to the Statutory Reserve u/s 45IC of the RBI Act
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
23 July 2009 It should be created @ 20% of the profits after tax in case of an non banking financial company.
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