Multiple choice

Presently (from Sept 2010) bank rate in India is.............

  1. 6·0%

  2. 6.25%

  3. 6·75%

  4. 7·0%
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A Correct answer
Explanation

Presently (from Sept 2010) bank rate in India is 6·0%. The interest rate that is charged by a country's central or federal bank on loans and advances to control money supply in the economy and the banking sector is the bank rate. This is typically done on a quarterly basis to control inflation and stabilize the country's exchange rates which is 6% presently.

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