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RBI has mandated that payments banks wil...

RBI has mandated that payments banks will be required to invest a minimum ………….` %` of the deposits collected from the public in government securities with up to 1 year maturity

A

`10%`

B

`25%`

C

`50%`

D

`75%`

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The correct Answer is:
D
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X Ltd. has a balance of Rs. 4,00,000 in Surplus, i.e., Balance in Statement of Profit and Loss. The company decided not to pay divident and instead redeem Rs. 3,50,000, 12% Debentures on 30th September, 2018 at a premium of 10% in accordance with terms of issue. Debentures interest is payable annually on 31st March every year when the accounts are closed. The company also has a balance of Rs. 2,00,000 in the Debentures Redemption Reserve. Tax was deducted @ 10% on interest on debentures and deposited in Government Account. The required investment was made by the company Government Securities on 30th April, 2018. Journalies the transactions.

IBPS & SBI PREVIOUS YEAR PAPER-PRACTICE SET-PRACTICE SET 3 (SBI/IBPS CLERK MAINS EXAM)
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