1. Royal Commission on Indian Currency and Finance

​“161. It seems highly desirable that the Bank Act should also include provisions compelling every bank or banker transacting business in India, from a date to be notified by the Governor-General, to establish and maintain minimum reserve balances with the Reserve Bank equal to 10 per cent. of its or his demand liabilities to the public in India, and 3 per cent. of its or his time liabilities to the public in India.”

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