Section 11(2)(b) in The Banking Regulation Act, 1949

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Union of India - Subsection

Section 11(2)(b) in The Banking Regulation Act, 1949

(b)[the banking company shall deposit and keep deposited with the Reserve Bank either in cash or in the form of unencumbered approved securities, or partly in cash and partly in the form of such securities-

(i)an amount which shall not be less than the minimum required by clause (a); and

(ii)as soon as may be after the expiration of each [*] year, an amount calculated at twenty per cent. of its profit for that year in respect of all business transacted through its branches in India, as disclosed in the profit and loss account prepared with reference to that year under section 29:]

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Union of India - Subsection

Section 11(2)(b) in The Banking Regulation Act, 1949