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    Question

    Who is responsible for setting the Cash Reserve Ratio

    (CRR) in India?
    A Ministry of Finance Correct Answer Incorrect Answer
    B Ministry of External Affairs Correct Answer Incorrect Answer
    C Reserve Bank of India Correct Answer Incorrect Answer
    D Life Insurance Corporation of India Correct Answer Incorrect Answer

    Solution

    The Reserve Bank of India (RBI) sets the CRR, a key monetary policy tool used to regulate the amount of funds that banks have to hold as reserves either in cash or as deposits with the RBI.

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