Amazon Quiz, Daily 8 AM-12 PM (28th December 2020): As of December 2020, The Monetary Policy Committee of RBI kept what at 4 per cent?
The options are:
B. Repo rate
C. Income tax
D. Foreign Exchange rate
The correct answer is Repo rate.
Repo rate refers to the rate at which commercial banks borrow money by selling their securities to the Reserve Bank of India (RBI) to maintain liquidity, in case of shortage of funds or due to some statutory measures.