2019
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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PNB
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SBI
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OBC
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PMC
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Detailed explanation-1: -Base Rate. Base Rate revised as 9.40% p.a. w.e.f. 15.12. 2022.
Detailed explanation-2: -As announced in the Monetary Policy Statement 2022-23 dated December 07, 2022, the Bank Rate is revised upwards by 35 basis points from 6.15 per cent to 6.50 per cent with immediate effect.
Detailed explanation-3: -On the other hand, when the RBI needs to pump funds into the system, it lowers the repo rate. Consequently, businesses and industries find it cheaper to borrow money for different investment purposes. It also increases the overall supply of money in the economy.
Detailed explanation-4: -In its first Monetary Policy statement of 2023, the central bank raised the policy repo rate by 25 basis points to 6.5%; since May 2022, the rate has seen an overall hike of 250 basis points.