In 3rd Bi-monthly Policy Statement, RBIs monetary policy committee (MPC) raised policy rates by 25 basis points to 6.5% on account of inflationary pressures arising due to hike in minimum support price. What is the Bank rate at present (As on 02nd August 2018)?

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

In 3rd Bi-monthly Policy Statement, RBI’s monetary policy committee (MPC) raised policy rates by 25 basis points to 6.5% on account of inflationary pressures arising due to hike in minimum support price. What is the Bank rate at present (As on 02nd August 2018)?

A	6.25%
B	6.75%
C	6.55%
D	6.00%

Explanation:

Detailed explanation-1: -Consequently, the standing deposit facility (SDF) rate stands adjusted to 6.25 per cent and the marginal standing facility (MSF) rate and the Bank Rate to 6.75 per cent.

Detailed explanation-2: -Highlights of RBI’s Bi-monthly Monetary Policy of 2022-23; Repo Rate raised to 6.25% in December 2022.

Detailed explanation-3: -Reserve Bank of India governor Shaktikanta Das, in the briefing after the monetary policy meeting, said that the real gross domestic product (GDP) growth for the financial year 2023 is estimated to be at 6.8 percent.

Detailed explanation-4: -Mumbai, 7 December 2022 Consequently, the standing deposit facility (SDF) rate stands adjusted to 6.00 per cent, and the marginal standing facility (MSF) rate and the Bank Rate to 6.50 per cent.

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