The Full form of AIITS is All India Income Tax Statistics, or AIITS stands for All India Income Tax Statistics, or the full name of given abbreviation is All India Income Tax Statistics.
AIITS (All India Income Tax Statistics)
All India Income Tax Statistics is known as AIITS, Reserve Bank of India (RBI) should consider publication of an average holding of cash reserves by commercial banks during the reference period.
Data on actual cash reserves and liquidity amounts, excess cash reserves and liquidity investments, corresponding net demand and time liabilities (DTL) amounts, and the ratios of required, actual and excess cash reserve ratio (CRR) and statutory liquidity ratio (SLR) should be published.
This is because a major component of the reserve money is the bankers’ deposits with RBI, essentially arising out of CRR prescribed for the banks.
The banks are, however, allowed the flexibility to maintain CRR on an average basis during a fortnight with the restriction that the CRR on a particular day could be maintained at as low as 50 per cent of the required level for the first seven days of the reporting fortnight and 65 per cent for the rest of the fortnight.
The reserve money data at a particular point of time, therefore, may not reflect the sharp changes in the component of bankers’ deposits with RBI.
AIITS all full forms
- All India Internal Test Series
- All India Income Tax Statistics
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