Which among the following is/are correct regarding the Cash Reserve Ratio decided by the RBI? I. The maximum CRR that can be decided by the RBI is 20%.  II. The scheduled commercial banks earn interest of at least 2% on the amount maintained with the RBI as CRR.  III. The CRR is maintained by banks on daily average basis with respect to their Net Demand and Time Liabilities. 

Which among the following is/are correct regarding the Cash Reserve Ratio decided by the RBI?

I. The maximum CRR that can be decided by the RBI is 20%. 

II. The scheduled commercial banks earn interest of at least 2% on the amount maintained with the RBI as CRR. 

III. The CRR is maintained by banks on daily average basis with respect to their Net Demand and Time Liabilities. 

1). Both II and III 
2). Both I and III 
3). Only III 
4). Only II 

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