RBI has increased the repo rate by how many basis points in February 2023?
Answer
Correct Answer : c ) 25
Explanation :The Monetary Policy Committee in its latest meeting has decided to further increase the repo rate by 25 basis points to 6.5% with immediate effect.
In December 2022, the committee increased the repo rate by 35 basis points to 6.25%. To contain inflation, RBI has increased the repo rate by 225 basis points since May 2022.
The new policy rates are as follows:
- Repo rate- 6.5%
- Fixed Reverse Repo rate- 3.35%
- SDF- 6.25%
- MSF- 6.75%
- Bank rate- 6.75%
- CRR- 4.5%
- SLR- 18.00%
Hence, option (c) is correct.
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