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SSC CGL 2022 PYQ — Question 45

SSC CGL - 12 April 2022 - Shift 2 • General Awareness • Q45

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What is the repo rate given by the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) as on 7 April 2021?

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Correct answer: B

Explanation

The correct answer is option 2 i.e. 4%.

Other Information -

  • The repo rate as given by the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on 7 April 2021 is 4%.
  • MPC decided to increase the policy repo rate by 50 basis points to 5.40 percent.
  • The MPC sets the base or reference rate used to determine the benchmark interest rate or other interest rates in India.
  • Monetary policy refers to the policy of the central bank regarding the use of monetary instruments under its control to achieve the goals specified in the Act.
  • The primary objective of RBI's monetary policy is to maintain price stability while keeping growth in mind.
  • The amended RBI Act, 1934 also provides for the inflation target (4% + -2%) to be fixed by the Government of India in consultation with the Reserve Bank once every five years.