2019
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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ICICI Bank
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Indian Bank
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Axis Bank
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State Bank of India
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Detailed explanation-1: -Four out of six members of MPC have decided to go ahead with this hike in the repo rate, RBI Governor Shaktikanta Das said on Wednesday.
Detailed explanation-2: -In December 2022, the MPC hiked the Repo rate - the key policy rate - by 35 basis points to 6.25 per cent in a bid to rein in retail inflation.
Detailed explanation-3: -The central bank in India i.e. the Reserve Bank of India (RBI) uses repo rate to regulate liquidity in the economy.
Detailed explanation-4: -Since November 1997 the repos are being undertaken by RBI on fixed interest rate.
Detailed explanation-5: -RBI hikes interest rates, hints at more to come; projects 6.4 pc economic growth for 2023-24. The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) on Wednesday hiked the repo rate by 25 basis points to 6.50 per cent.