BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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6.50%
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6.25%
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6.75%
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4.00%
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Detailed explanation-1: -Current Bank Rate in India The Reserve Bank of India repo rate in 2023 increased by 0.35 percentage points to 6.25% in December 2022. The 3.35% reverse repo rate remained unchanged. The marginal standing facility rate and the bank rate will remain unchanged at 6.75% and 6.25%, respectively.
Detailed explanation-2: -In the consecutive fifth hike this year, the RBI’s Monetary Policy Committee has raised the repo rate by 35 basis points (bps) to 6.25 per cent.
Detailed explanation-3: -In the long-term, the India Reverse Repo Rate is projected to trend around 3.35 percent in 2023, according to our econometric models.
Detailed explanation-4: -The key repo rate has been hiked on 7 December 2022 by the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) by 35 basis point to 6.25%. The policy repo rate was increased from 4.00% to 4.40%, by 40 basis points (bps), on 4 May 2022, and then from 4.40% to 4.90% on 8 June 2022, by 50 basis points.