2020
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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5.20%
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4.40%
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4.00%
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4.65%
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Detailed explanation-1: -Current Repo Rate 2023. The Monetary Policy Committee (MPC) announced in December 2022 that the repo rate has been increased by 35 basis points and the rate is now 6.25%. During its meeting MPC has decided to keep the reverse repo rate unchanged at 3.35%.
Detailed explanation-2: -Reverse Repo rate is the rate at which the Reserve Bank of India borrows funds from the commercial banks in the country. In other words, it is the rate at which commercial banks in India park their excess money with Reserve Bank of India usually for a short-term.
Detailed explanation-3: -Accordingly, the MPC decided to increase the policy repo rate by 50 basis points to 4.90 per cent. The MPC also decided to remain focused on withdrawal of accommodation to ensure that inflation remains within the target going forward, while supporting growth.