Reserve Bank of India fixed the Repo Rate at what percent in its First Bi-monthly Monetary Policy Statement 2019-20?
A. 5.75%
B. 6.00%
C. 6.25%
D. 6.50%
Answer:B
Reserve Bank of India fixed the Repo Rate at what percent in its First Bi-monthly Monetary Policy Statement 2019-20?
A. 5.75% B. 6.00% C. 6.25% D. 6.50%
Explanation: Reserve Bank of India on 4th April once again reduced the benchmark lending rate by 0.25 percentage points to 6 per cent. Four members of the monetary policy committee (MPC) voted in favour of the rate cut, while Deputy Governor Viral Acharya and Chetan Ghate voted for maintaining the status quo. The central bank has maintained 'Neutral' stance on the monetary policy. While projecting the gross domestic product (GDP) growth for 2019-20 at 7.2 per cent, the RBI revised downward retail inflation estimate to 2.4 per cent in Q4 FY-19.