As most of the candidates know that One or two questions are asked in IBPS all exams including PO, RRB and Clerk etc. and SBI and other bank exams in India. For giving the answer to these questions, a candidates must be aware of the rates declared by RBI. So candidates should know current rates of the banks if they want to score higher.
So here we are providing you updated information on Current RBI Rates 2023. These questions are very important if you want to qualify any bank exam as one or mostly two questions are asked in these exams on rate.
So by visiting this page, you will stay updated with RBI Rates and increase your marks.
Any candidate who just give a glimpse to the below given rates before the exam will increase their score by a few mark(s). Just remembering the current value of these will let them perform better.
Here are the Current RBI Rates as on 14 September 2023:
1. Bank Rate : 6.75 %
2. Cash Reserve Ratio (CRR) : 4.5 %
3. Statutory Liquidity Ratio (SLR) : 18.00 %
4. Policy Repo Rate (RR) : 6.50 %
5. Fixed Reverse Repo Rate (RRR) : 3.35 %
6. Marginal Standing Facility (MSF) Rate : 6.75 %
7. Standing Deposit Facility Rate : 6.25%
Official website – rbi.org.in.
Bank rate or discount rate is the rate of interest which a central bank charges on the loans and advances to a commercial bank.
Cash reserve Ratio (CRR) is the amount of funds that the banks have to keep with the RBI.
Reverse Repo rate (RRR) is the rate at which the RBI borrows money from commercial banks.
Repo Rate (RR) is the rate at which the RBI lends money to commercial banks.
Marginal Standing Facility (MSF) is a rate at which banks can borrow money from the central bank over and above what is available to them through the LAF window.
Statutory liquidity ratio (SLR) is the term for reserve requirement for commercial banks in India which they have to maintain in the form of gold, government approved securities before providing credit to the customers.