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There is no change in repo rate in RBI monetary policy review

There is no change in repo rate in RBI monetary policy review

There was no change in the repo rate in the monetary policy review of the Reserve Bank of India on Wednesday. The repo rate has remained at 6.5 per cent and the reverse repo rate will remain at 6.25 per cent only. From June the central bank has increased policy rates two consecutively. After that, in October, the central bank kept the interest rates unchanged, keeping the market in a unchanged. However, during  inflationary pressure due to the rupee fall and higher crude oil prices, it was expected that the interest rates would increase. At that time the repo rate was kept at 6.50 percent.

The rate at which the Reserve Bank lends to other commercial banks is called a repo rate. The six-member committee, headed by Reserve Bank Governor Urjit Patel-led Monetary Policy Committee (MPC), is meeting on December 3. This is the fifth bimonthly monetary policy review meeting of the current financial year.

Q.1 What is the revised reate in RBI monetary policy review in 2018?
A. 12.85 percent
B. 6.5 percent
C. 10.72 percent
D. 3.85 percent
Answer...
Ans: 6.5 percent
Q.2 Who is the governor of Reserve Bank of India during 2018?
A. Raghuram Rajan
B. Urjit Patel
C. Manmohan Singh
D. Viral Acharya
Answer...
Ans: Urjit Patel

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