Multiple choice

Directions: Choose the correct option for the given question: Presently (from April 29, 2003) bank rate in India is.............

  1. 7·0%

  2. 6·75%

  3. 6.25%

  4. 6·0%
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The bank rate is the rate at which the central bank (RBI) lends money to commercial banks without any collateral. On April 29, 2003, the RBI reduced the bank rate from 6.75% to 6.0% as part of its monetary policy easing measures. Options A (7.0%) and B (6.75%) represent higher rates, while C (6.25%) was not the rate set on this specific date.

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