CURRENT AFFAIRS

Detailed explanation-1: -* Both repo and reverse repo rates were kept unchanged at 4 per cent and 3.5 per cent, respectively.

Detailed explanation-2: -This means banks won’t hike lending and deposit rates and EMIs on loans will remain unchanged. Repo rate is the rate at which the central bank of a country (RBI in case of India) lends money to commercial banks in the event of any shortfall of funds.

Detailed explanation-3: -Reverse repo rate unchanged, SDF introduced A stable Reverse repo rate means that the central bank wants to retain the money, or liquidity, in the banking system. A hike would have signalled the start of the reversal of the monetary policy cycle that would eventually lead to a rise in rates.

Detailed explanation-4: -The central bank kept repo rate unchanged at 4% for the 10th time in a row. The reverse repo rate has also been kept unchanged at 3.35%.

Detailed explanation-5: -The RBI raised the Repo Rate by 35 basis points on December 7, 2022, bringing the rate up to 6.25% and marking the fourth hike or Repo Rate increase in 2022. Earlier RBI increased the Repo Rate by 50 basis points to 5.9% on September 30, 2022. In the current fiscal year, the RBI has increased the Repo Rate four times.