Question:
ACD Bank holds a total deposit of Rs. 256412. To expand the money supply in the economy during the COVID-19 pandemic period, the Reserve Bank of India reduces the cash reserve ratio (CRR) from 4.5% to 3.5%. Due to this policy change, the additional money supply generated by ACD Bank is Rs. ____ (in integer).
ACD Bank holds a total deposit of Rs. 256412. To expand the money supply in the economy during the COVID-19 pandemic period, the Reserve Bank of India reduces the cash reserve ratio (CRR) from 4.5% to 3.5%. Due to this policy change, the additional money supply generated by ACD Bank is Rs. ____ (in integer).
Updated On: Oct 1, 2024
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Correct Answer: 1628012
Solution and Explanation
The correct answer is: 1628012 or 1628013 (approx.)
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