what is Reverse Repo Rate?
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Answer / finance man
rate of interest on which RBI borrows money from bank
| Is This Answer Correct ? | 38 Yes | 2 No |
Answer / madan
RBI PAID INTEREST ON MONEY OF COMMERCIAL BANK. THIS RATE
CALLED REVERSE REPO RATE.
| Is This Answer Correct ? | 11 Yes | 1 No |
Answer / sandeep
RBI borrowed money from banks for that rbi pays interest to
the banks.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / praveen
This is exact opposite of Repo rate.
Reverse Repo rate is the rate at which Reserve Bank of India (RBI) borrows money from banks. RBI uses this tool when it feels there is too much money floating in the banking system. Banks are always happy to lend money to RBI since their money is in safe hands with a good interest.
An increase in Reverse repo rate can cause the banks to transfer more funds to RBI due to this attractive interest rates.
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