Question

explain statutory reserve maintained by bank​

Answer 1

Answer:

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Explanation:

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Answer 2

Statutory reserve maintained by bank​:

• Statutory reserve maintained by a bank is defined as the process in which the banks or some other financial institution keep aside some amount of money in order to balance the financial obligations of the Government bodies that are associated with the bank.
• This reserve saves the bank from the financial crisis and helps the banks in situations when it is caught up with money problems in order to satisfy the needs of the borrowers.
• This reserve also helps in the effective run of the insurance companies who offer insurance policies to the customers at the low interest rate.

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