Which of the following statements on Cash reserve Ratio (CRR) is/are correct?
(a) It is the amount of funds that the banks have to keep with the Reserve Bank of India.
(b) It is calculated on the basis of demand and term liabilities of banks.
(c) RBI is empowered to fix CRR between 5 and 20 percent
Select the correct answer using the codes given below:

A

Only a

B

Only b

C

Both a and b

D

Both b and c

E

None of these