STATUTORY LIQUIDITY RATIO Definition

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STATUTORY LIQUIDITY RATIO (SLR) is a ratio which every banking company shall maintain in the form of cash, gold or unencumbered approved securities, an amount which shall not, at the close of business on any day be less than such percentage of the total of its demand and time liabilities as the Reserve Bank may specify from time to time.

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INTERNAL CONTROL WEAKNESS is a defect in the design or operation of internal controls.

ECONOMIC LIFE is the time period over which an asset(s) may generate economic benefits.

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