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      Which among the following statements is incorrect in regards to statutory liquid ratio?

1. Statutory liquid ratio refers to the amount that the commercial banks require to maintain in the form of cash, or gold or govt. approved securities before providing credit to the customers

2. Statutory liquid ratio is determined and maintained by RBI in order to control the expansion of bank credit

3. At present, the SLR is 4 %

4. It is determined as percentage total demand and percentage of time liabilities

A) 1 only                          

B) 1 and 2

C) 3 only              

D)        None of the above