Bank Rates like Repo rate,Reverse repo rate, MSF, SLR, CRR etc are important in IBPS, SBI & associate bank exams.Here lists updated banking rates from RRB
Repo rate : 6.25% (old rate 6.5% changed from 4th oct 2016)
Reverse Repo rate: 5.75% (old rate:6%)
MSF (Marginal Standing Facility Rate) : 6.75% (old 7)
Bank Rate : 6.75% (old rate: 7%)
CRR ( Cash reserve Ratio ): 4%
SLR ( statutory liquidity ratio ): 20.75% (old : 21%)
Answer: The rate at which the scheduled banks can borrow funds from RBI against government securities
*6. what is known as paper gold?
Answer: Special drawing rights(SDR).
*7. what is the full form of the banking term "KYC"?
Answer: Know Your Customer
*8. What is the full form of financial term "NBFC" ?
Answer: Non-Banking Financial Company
*9. What is the full fom fo "UPI"?
Answer: Unified Payment Interface