Multiple choice

What is the 2007 cash reserve ratio?

  1. 6%

  2. 6.5%

  3. 7%

  4. 7.5%
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

In 2007, India's Cash Reserve Ratio (CRR) was at 7% for part of the year before being adjusted by RBI. CRR is the percentage of deposits banks must keep with RBI. The 6%, 6.5%, and 7.5% options were rates at different times but 7% was indeed the rate during 2007.

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