The Reserve Bank of India maintained its repo rate at 6.5% for the eleventh consecutive time. With inflation rising and GDP growth slowing, the decision has sparked debates. What does the term “repo rate” refer to in monetary policy?
A. The interest rate at which the RBI lends to commercial banks.
B. The interest rate at which banks lend money to customers.
C. The tax rate imposed on banking transactions.
D. The exchange rate between the Indian Rupee and US Dollar.
Do you know the answer? Let us know in the comments below!
(We will reveal the correct answer in tomorrow’s quiz, so stay tuned!)
And the correct answer to the previous quiz is…
C) Myntra Jabong!
You’ve nailed it with the right answer. Looking forward to seeing more of your participation in future quizzes.