What is the interest rate at which banks can borrow money from reserve bank of india?
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Repo Rate. If banks want to borrow money (for short term, usually overnight) from RBI then banks have to charge this interest rate. currently, Repo rate is set to 6% w.e.f 9 August 2017. Banks have to pledge government securities as collateral.
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Repo Rate. If banks want to borrow money (for short term, usually overnight) from RBI then banks have to charge this interest rate. currently, Repo rate is set to 6% w.e.f 9 August 2017. Banks have to pledge government securities as collateral.
Explanation:
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