Current Context: The Monetary Policy Committee (MPC) of Reserve Bank of India has released new updates related to monetary policy rates on 6th Aug 2020.
- As per the announcement by RBI Governor Shaktikanta Das, the repo rate is kept unchanged to 4%.
- The decision of keeping an unchanged repo rate is taken to review and mitigate the pandemic impact on the economy of India.
- Along with this announcement in repo rate, the central bank has asked lenders to reconstruct corporate loan structure and MSME loan structure and has raised the limit of offering loans which is availed on gold ornaments and jwellery.
- The reverse repo rate under liquidity adjustment facility is unchanged to 3.35% and marginal standing facility and bank rate is kept at 4.25%.
- Static Part:
- HQ of RBI: Mumbai
Question:
Q.1 What is repo rate set by RBI as per Monetary Policy Committee meet held on 6th Aug 2020?
a. 4%
b. 4.75%
c. 5%
d. 5.8%
a. 4%
b. 4.75%
c. 5%
d. 5.8%
