ECONOMICS
MONETARY POLICY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The base rate is currently
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0.1%
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0.25%
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0.5%
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1%
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Explanation:
Detailed explanation-1: -Base rate is defined as the minimum interest rate set by the RBI below which Indian banks are not permitted to lend to their customers. Unless there is a government mandate, the RBI rule specifies that no bank may offer loans at an interest rate lower than the base rate.
Detailed explanation-2: -The base rate is the minimum interest rate charged by commercial banks when it lends to individuals and businesses. The central bank regulates this minimum limit. It is calculated based on the average cost of funds and altered every quarter.
Detailed explanation-3: -Base Rate. Base Rate revised as 9.40% p.a. w.e.f. 15.12. 2022.
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