Ques: According to Sixth Bi-monthly Monetary Policy Statement, 2015-16 released by RBI on 2 February 2016, what is the Repo rate?
(a) 6.75%
(b) 8.75%
(c) 7.75%
(d) 6.50%
Ans (a)
Related facts:
- On 2 February 2016 Reserve Bank of India released the Sixth Bi-monthly Monetary Policy Statement, 2015-16.
- The Reserve Bank of India kept the key policy rates unchanged in ‘sixth bi monthly monetary policy statement’.
- RBI has kept the policy repo rate and reverse repo rate under the liquidity adjustment facility (LAF) unchanged at 6.75 per cent and 5.75 per cent respectively.
- The marginal standing facility (MSF) rate and the Bank Rate are kept at 7.75 per cent.
- The cash reserve ratio (CRR) of scheduled banks kept unchanged at 4.0 per cent of net demand and time liability (NDTL).
- Statutory liquidity ratio (SLR) is also remains the same as earlier i.e 21.5 per cent.
- RBI projected the growth rate for the financial Year (FY) 2015-16 at 7.4%.
- Gross Value Added (GVA) rate for the year 2016-17 is estimated as 7.6 per cent.
- The first bi-monthly monetary policy statement for 2016-17 will be announced on Tuesday, April 5, 2016.
Reference:
https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=36124