Question
Download Solution PDFWhat is the new reverse Repo rate announced by the Reserve Bank of India (RBI) as on 1st August 2018?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe 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.
Last updated on Jul 18, 2025
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