RBI increased repo rate

Question of The Day08-02-2023

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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