Question

What the incorrect about SLR (statutory Liquidity Ratio)?
i.  The SLR is determined by a percentage of gross demand and time liabilities
ii. For default in maintaining SLR, the bank will have to pay penalty to RBI
iii.Maximum limit of SRL is 40% and minimum is 0%. 

A 1) Only i & ii
B 2) Only i & iii
C 3) Only i
D 4) Only ii
E 5) None of these
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