STATUTORY RESERVE

7744 views 7 replies

Who much statutory reserve is to maintain in case of banking company if queston is silent ( for may'10 IPCC grp:2 )

20% or 25%

Please reply soon

Replies (7)
25

25%

25%

25 % 

25%

25

Sec.17 of the banking regulation act requires transfer to statutory reserve, of 20% of profits before declaring dividens.  
                       
RBI has stipulated transfer of not less than 25% of the NP before appropriations,(after adjustment provision for bonus to staff).


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details