2019
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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3%
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3.5%
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4%
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4.5%
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Detailed explanation-1: -After the latest hike in the repo rate on 7 December 2022, the Marginal Standing Facility (MSF) Rate rose to 6.15% from 5.65% and currently stands at 6.50%. The Cash Reserve Ratio (CRR) had also been increased to 4.50% (an increase of 50 basis points) and currently remains unchanged.
Detailed explanation-2: -The CRR is among the important components of the RBI’s monetary policy. As of 2023, the CRR Rate is 4.5% which has been effective since May 21, 2022. What is CRR in relation to the economy? This question is important as CRR is not just an isolated figure, but one that helps the RBI direct the economy.
Detailed explanation-3: -Latest Updates. 4th May 2022 – Reserve Bank of India (RBI) raised cash reserve ratio (CRR) by 50 basis points to 4.50% effectvie May 21.