What repo rate was declared by the Reserve Bank of India’s Monetary Policy Committee (MPC) on 9th October 2024?
6.50%
The correct answer is option 2 i.e. 6.50%.
The Reserve Bank of India's Monetary Policy Committee (MPC) in its meeting held on October 7-9, 2024, decided to keep the policy repo rate unchanged at 6.50 percent. Consequently, the standing deposit facility (SDF) rate remained at 6.25 percent, and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 percent. The MPC also shifted its stance from 'withdrawal of accommodation' to 'neutral'.
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Important Questions from RBI
Which of the following statements is/are correct regarding the Monetary Policy Committee (MPC)?
1. It decides the RBI's benchmark interest rates.
2. It is a 12-member body including the Governor of RBI and is reconstituted every year.
3. It functions under the chairmanship of the Union Finance Minister.
Select the correct answer using the code given below:
The terms ‘Marginal Standing Facility Rate’ and ‘Net Demand and Time Liabilities’, sometimes appearing in news, are used in relation to
In the context of Indian economy; which of the following is/are the purpose/purposes of ‘Statutory Reserve Requirements’?
(1) To enable the Central Bank to control the amount of advances the banks can create
(2) To make the people’s deposits with banks safe and liquid
(3) To prevent commercial banks from making excessive profits
(4) To force the banks to have sufficient vault cash to meet their day-to-day requirements
Select the correct answer using the code given below.
If the interest rate is decreased in an economy, it will
The lowering of Bank Rate by the Reserve Bank of India leads to:
