What is the new reverse Repo rate announced by the Reserve Bank of India (RBI) as on 1^st August 2018?

Question

Question

This question was previously asked in

RRC Group D Previous Paper 15 (Held On: 29 Oct 2018 Shift 2)

Answer 1

The correct answer is option 4 i.e 6.25

The new reverse Repo rate announced by the Reserve Bank of India (RBI) as of 1st August 2018 was 6.25 %.

Rate	Description
Repo rate	It is the rate of interest which is levied on the short-term (2 - 90 days) loans taken by commercial banks from the Reserve Bank of India. Current Repo rate is - 5.15%
Reverse repo rate	It is the rate of interest at which Reserve Bank of India borrows the surplus funds with the commercial banks. Current Reverse repo rate is - 4.90%
MSF rate	It is the rate at which banks can borrow overnight from the Reserve Bank of India. This was introduced in the monetary policy of RBI for the year 2011-12 Current MSF rate is - 5.40%
Bank rate	It is the rate of interest levied on long-term (90 days - 1 year) loans and advances taken by commercial banks from the Reserve Bank of India Current Bank rate is - 5.40%

* The rate mentioned in the table are as per Dec 2019.