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  9. Q15

APSC CCE 2024 · Question 15 of 178

What is meant by 'repo rate' of the RBI?

Economy

  1. AIt is the rate of interest at which commercial banks offer loans
  2. BIt is the percentage of total deposits of commercial banks that is kept in cash
  3. CIt is the rate of interest at which commercial banks borrow money from the RBI for short-term needsCorrect
  4. DIt is the rate at which commercial banks lend to each other

Answer: C. It is the rate of interest at which commercial banks borrow money from the RBI for short-term needs

Explanation

The repo rate is the rate at which the RBI lends short-term money to commercial banks; official key gives (C).

Source: APSC CCE Prelims 2024 GS Paper-I, official Series-A paper (DUCN-I-24/43-A), answer from official Series-A key

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