The rate at which reserve bank of india borrows money from commercial banks
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It borrows at an interest rate called the Reverse Repo Rate. The Reverse Repo Rate being 1% less than the Repo Rate, which is the rate at which commercial banks can borrow money from the RBI for their long term needs. Currently the Repo Rate is 7.75% in India and consequently the Reverse Repo Rate is6.75%.
It borrows at an interest rate called the Reverse Repo Rate. The Reverse Repo Rate being 1% less than the Repo Rate, which is the rate at which commercial banks can borrow money from the RBI for their long term needs. Currently the Repo Rate is 7.75% in India and consequently the Reverse Repo Rate is6.75%.
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