RBI keeps repo rate unchanged at 6.75% in 5th bi-monthly monetary policy review [ Current Affairs ]
The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.75 % in its 5th bi-monthly monetary policy review in key policy interest rate. On the basis of valuation of the current and growing economic situation in the country the key policy interest rates were kept unchanged.
The Key policy interest rates are:
- Repo rate under the liquidity adjustment facility (LAF) has also unchanged at 6.75%.
- At 5.75% Reverse repo rate under the LAF has also unchanged.
- Bank Rate has unchanged at 7.75 % for Marginal standing facility (MSF) rate.
- Cash Reserve Ratio (CRR) of scheduled banks has keptUnchanged at 4.0 % of net demand and time liability (NDTL).
- At the LAF repo rate continuation of liquidity under immediate repos at 0.25 % of bank-wise NDTL.
- For the banking system through auctions NDTL has kept longer term repos of up to 0.75 % along with 14-day term repos under the continuation of liquidity.
About Reserve Bank of India:
- It was established on 1st April 1935, when Bruisers rules in India with the provisions of the Reserve Bank of Indian Act 1934.
- After independent India on 1 January 1949 RBI was nationalized.
- RBI is India’s central banking organization, which controls the monetary policy of Indian rupee.
- The RBI’s administrated and directed by 21- members of Central Board of Directors, which includes Governor, 2 Deputy Governor and 2 Finance Ministry. Currently Dr. Raghuram Rajan is serving as Governor of RBI.
- Published on: December 2, 2015