2018
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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25BPS
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15 BPS
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45 BPS
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65 BPS
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Detailed explanation-1: -III. 1 The conduct of monetary policy in 2018-19 was guided by the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent with a tolerance band of +/-2 per cent, while supporting growth.
Detailed explanation-2: -On June 6, the 6-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) hiked the key policy repo rate by 25 basis points to 6. 25% in its second bi-monthly monetary policy review of FY19. Concurrently, the reverse repo rate adjusted to 6.
Detailed explanation-3: -As announced in the Third Bi-Monthly Monetary Policy Statement 2018-19 dated August 1, 2018, the Bank Rate stands adjusted by 25 basis points from 6.50 per cent to 6.75 per cent with immediate effect. 3.