what do you mean by bank rate ?
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Definition: Bank rate is the rate charged by the central bank for lending funds to commercial banks. Description: Bank rates influence lending rates of commercial banks. Base rate is the minimum rate set by the Reserve Bank of India below which banks are not allowed to lend to its customers. ...
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Answer:Bank rate is the rate charged by the central bank for lending funds to commercial banks. Description: Bank rates influence lending rates of commercial banks. Higher bank rate will translate to higher lending rates by the bankIn IndiaThe current rates as per RBI Monetary Policy are: SLR is 21.50%, Repo rate is 4.00%, Reverse Repo rate is 3.35%, MSF rate is 4.65%, CRR is 3% and Bank rate is 4.65%.
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