2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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4.25%
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3.35%
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3.75%
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4.00%
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Detailed explanation-1: -On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (February 8, 2023) decided to: Increase the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points to 6.50 per cent with immediate effect.
Detailed explanation-2: -It is the interest rate charged by the RBI when commercial banks borrow by selling their securities to the central bank. Basically, it is the interest charged by the RBI when banks borrow from it - much like commercial banks charge you interest for a car loan or home loan. The current repo rate is 6.25%.
Detailed explanation-3: -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.
Detailed explanation-4: -As of April 2021, RBI’s repo rate stands at 4% and reverse repo rate at 3.35%.