General Knowledge · Banking and Finance
What is the correct definition of the 'Repo Rate' in India?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The minimum percentage of deposits that commercial banks must keep with the RBI.
- 2The maximum limit fixed by the RBI on interest rates that commercial banks can charge on loans.
- 3The interest rate at which the RBI lends money to commercial banks.✓
- 4The interest rate charged by banks for inter-bank transactions.
Correct answer
The interest rate at which the RBI lends money to commercial banks.
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