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
- When was the Bank of Madras established as the third Presidency Bank in India?
Which of the following is the apex banking institution of India that regulates the monetary policy?
Which among the following is the first life insurance company on the Indian soil?
Which among the following sponsors Regional Rural Banks (RRB'S)?
In which year State Bank of India was nationalized?
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