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SSC GD 2023 PYQ — Question 24

SSC GD Constable (English) - 17 Jan 2023 - Shift 4 • General Awareness • Q24

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In economics, CRR stands for _______.

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Correct answer: C

Explanation

The correct answer is option 3 i.e. Cash Reserve Ratio.

  • CRR in economics stands for Cash Reserve Ratio.
  • Cash Reserve Ratio is the amount of money that the scheduled banks will have to have in deposit with the central bank of the country at all times. 
  • It is the amount that the bank has, which cannot be invested anywhere or given as loans to the borrowers. 
  • CRR is one of the most important tools for the Reserve Bank of India and is used mostly in controlling inflation/deflation and liquidity in the economy.