2017
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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6.75 %
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6 %
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6.25 %
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6.50 %
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Detailed explanation-1: -External Benchmark Lending Rates (EBLR) are the lending rates set by the banks based on external benchmarks such as repo rate, 91 days Treasury bill and 182 days Treasury bill. Every bank can choose any such external benchmark and link its lending rates.
Detailed explanation-2: -Detailed Solution. The correct answer is The official rate of interest charged by the Central Bank of the country. A bank rate is the interest rate at which a nation’s RBI lends money to domestic banks, often in the form of very short-term loans.
Detailed explanation-3: -Repo Rate (RR) is the rate at which the Reserve Bank of India (RBI) lends money to commercial banks or financial institutions in India against government securities. The current Repo Rate 2022 is at 4.40%.
Detailed explanation-4: -The Monetary Policy Framework Inflation Target: Under Section 45ZA, the Central Government, in consultation with the RBI, determines the inflation target in terms of the Consumer Price Index (CPI), once in five years and notifies it in the Official Gazette.