BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following key rate has not been altered by RBI since 2003?
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Bank rate
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Statutory liquidity ratio
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Cash reserve ratio
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None of the given options is true
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Explanation:
Detailed explanation-1: -The interest rate on savings bank deposit has been progressively reduced by the Reserve Bank. It now stands at 3.5 per cent that has remained fixed since March 2003.
Detailed explanation-2: -Out of the given options, fixed deposit rate is not decided by RBI.
Detailed explanation-3: -The Reserve Bank of India (RBI) uses the repo rate as an interest rate, when lending money to commercial banks to control inflation rates. What is reverse repo rate? The interest rate that the central bank offers to commercial banks that deposit money in the RBI treasury is known as the reverse repo rate.
Detailed explanation-4: -Issuing of coins is not a function of the Central Bank.
There is 1 question to complete.