Question

define reverse repo rate

plz answer fast urgently needed​

Answer 1

Answer:

The interest rate at which the RBI borrows money from banks for the short term is defined as Reverse Repo Rate. The Reverse Repo Rate helps the RBI get money from the banks in times of need.

Explanation:

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Answer 2

Explanation:

Reverse repo rate is the rate at which the central bank of a country (Reserve Bank of India in case of India) borrows money from commercial banks within the country. It is a monetary policy instrument which can be used to control the money supply in the country.