The reserve held by commercial banks over and above the statutory minimum with the RBI are called: (OPSC OAS 2021 GS Paper 1)

A. Cash Reserve

B. Deposit Reserve

C. Monetary Reserve 

D. Excess Reserve

Solution: D

Excess Reserve is the reserve held by commercial banks over and above the statutory minimum with the RBI. RBI sets the criteria for excess reserve. 

Excess Reserves= Total Reserves- Required Reserves

The RBI’s reserves include:

1. currency and gold revaluation account (CGRA), 

2. investment revaluation account (IRA), 

3. asset development fund (ADF) and 

4. contingency fund (CF) 

Read Daily Banking Awareness to know more about Banking Sector in India.

Hence, option (D) is correct.



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