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At which rate, Reserve Bank of India borrows money from commercial banks?
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The Reserve Bank of India (RBI) borrows money from commercial banks through its repo operations. The rate at which RBI borrows money from commercial banks is called the repo rate. This is the rate at which the RBI lends money to commercial banks for the short term, usually against government securities.
The repo rate set by the RBI was 4.00%. This rate is a key monetary policy tool used by the RBI to control liquidity, inflation, and economic growth. Banks often use the repo rate as a benchmark for setting their own lending and deposit rates.