The Reserve Bank of India Act, 1934
CHAPTER III B: PROVISIONS RELATING TO NON BANKING INSTITUTIONS RECEIVING DEPOSITS AND FINANCIAL INSTITUTIONS
Section 45-Ic: Reserve Fund
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Explanation using examples
Imagine a non-banking financial company (NBFC) named "QuickFin Services" that provides loans and financial services. At the end of the financial year, QuickFin Services calculates its net profit and discovers it ha