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%
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STATUTORY RESERVE
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). | |||||||||||
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