STATUTORY RESERVE

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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).


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