With reference to the fourth bi-monthly Monetary Policy Report 2015-16, what is the current repo rate in India?
With reference to the fourth bi-monthly Monetary Policy Report 2015-16, what is the current repo rate in India?
[A]7.25%
[B]6.25%
[C]6.75%
[D]6.50%
6.75%
The key points of Fourth Bi-monthly Monetary Policy Report of Reserve Bank of India (RBI):- a) reduced the policy repo rate under the Liquidity Adjustment Facility (LAF) by 50 basis points from 7.25 % to 6.75% with immediate effect. B) kept the Cash Reserve Ratio (CRR) of scheduled banks unchanged at 4.0 % of Net Demand and Time Liability (NDTL). C) continue to provide liquidity under overnight repos at 0.25 % of bank-wise NDTL at the LAF repo rate and liquidity under 14-day term repos as well as longer term repos of up to 0.75 % of NDTL of the banking system through auctions. D) continue with daily variable rate repos and reverse repos to smooth liquidity.