Akash deposited Rs. 10000 in his bank account. Out of this amount, his bank kept a total of Rs. 2000 with the RBI as instructed. What do you call this Rs. 2000?

Interest

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Collateral

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Deposit

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Reserve

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is D Reserve
Commercial banks maintain a minimum percentage of the total deposit with the RBI and with themselves. This is known as reserve. Hence, the amount Rs. 2000 out of Akash's deposit that the bank kept with the RBI is the reserve.

Suggest Corrections

Similar questions

Q. At the beginning of year 2011, a man had Rs 22,000 in his bank account. He saved some money by the end of this year and deposited it in the bank. The bank pays 10% per annum compound interest and at the end of 2012 he had Rs 39,820 in his bank account. Find what amount of money he had saved and deposited in his account at the end of year 2011.

Q. A coolie deposits Rs 150 per month in his post office Savings Bank account. If this is 15% of his monthly income, find his monthly income.

A coolie deposits Rs. 150 per month in his post office Saving Bank account. If this is 15% of his monthly income, find his monthly income.

Q. Moses deposited Rs.

850

into the bank in July. From July to December, the amount of money he deposited into the bank increase by

25 %

per month. Whats the total amount of money in his account after December?

Ravi invests 50% of his monthly savings in fixed deposits. Thirty percent of the rest of his savings is invested in stocks and the rest goes into Ravi's savings bank account. If the total amount deposited by him in the bank (for savings account and fixed deposits) is Rs. 59500, then Ravi's total monthly savings (in Rs) is___

Join BYJU'S Learning Program

Akash deposited Rs. 10000 in his bank account. Out of this amount, his bank kept a total of Rs. 2000 with the RBI as instructed. What do you call this Rs. 2000?

The correct option is D ReserveCommercial banks maintain a minimum percentage of the total deposit with the RBI and with themselves. This is known as reserve. Hence, the amount Rs. 2000 out of Akash's deposit that the bank kept with the RBI is the reserve.

The correct option is D Reserve
Commercial banks maintain a minimum percentage of the total deposit with the RBI and with themselves. This is known as reserve. Hence, the amount Rs. 2000 out of Akash's deposit that the bank kept with the RBI is the reserve.