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

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RRC Group D Previous Paper 15 (Held On: 29 Oct 2018 Shift 2)
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  1. 5.75
  2. 6.75
  3. 6.5
  4. 6.25

Answer (Detailed Solution Below)

Option 4 : 6.25
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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.

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