2016
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is the revised reverse repo rate according to first bi-monthly monetary policy for 2016-17
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7. 3 %
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6 %
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6.5 %
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5.5 %
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Explanation:
Detailed explanation-1: -Accordingly, the MPC decided to increase the policy repo rate by 25 basis points to 6.50 per cent. The MPC also decided to remain focused on withdrawal of accommodation to ensure that inflation remains within the target going forward, while supporting growth.
Detailed explanation-2: -Highlights of RBI’s Bi-monthly Monetary Policy of 2022-23; Repo Rate raised to 6.25% in December 2022. January 2023.
Detailed explanation-3: -Current reverse repo rate is at 3.35%. Repo rate refers to the rate at which commercial banks borrow money by selling their securities to the Central Bank of our country i.e. Reserve Bank of India (RBI) to maintain liquidity, in case of shortage of funds or due to some statutory measures.
There is 1 question to complete.