Question
Which of the following is INCORRECT with respect to the repo rate?
The correct answer is
It is the rate at which banks place their funds with the RBI and receive collateral.
The incorrect statement is option 3. The repo rate is the rate at which banks borrow money from the RBI, not the rate at which they place their funds with the RBI.
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Important Questions from Banking History or Facts
Which bank was NOT nationalized during the bank nationalization process of 1969?
Which of the following is NOT an amphibian animal?
In which year was the Reserve Bank of India (RBI) established?
The name of the first bank established in India was
A. Bank of Hindustan
B. Reserve Bank of India
C. Imperial Bank
D. State Bank of India
Nationalisation of 14 Commercial Banks took place in
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