Contingency Reserve To Account For 12% Of Total Assets

The Reserve Bank of India (RBI) expects the contingency reserve (CR) to account for 12 per cent of its total assets by the year 2005. This reserve enables it to absorb unexpected and unforeseen contingencies.

The balance in the CR has gone up from Rs 48,434.17 crore as on June 30, 2002 to Rs 55,249.29 crore as on June 30, 2003.

Meanwhile, RBI