RBI Monetary Policy Rates

 Hello Aspirants,

As per Monetary Policy Statement, 2022-23 Resolution of the Monetary Policy Committee (MPC) 21-02-2023.

 

	Rate	Definition
Repo Rate (RR)	6.50%	It is the rate of interest at which the central bank (RBI) lends short-term money to banks, essentially to control credit availability, inflation, & economic growth.
Standing Deposit Facility (SDF) Rate	6.25%	The RBI has introduced the Standing Deposit Facility (SDF), allowing banks to park their excess funds at a higher rate but without taking any collateral from the central bank.
Marginal Standing Facility (MSF) Rate	6.75%	MSF is the rate at which the banks can borrow overnight funds from RBI against the approved government securities.
Bank Rate	6.75%	It is the rate at which the Reserve Bank is ready to buy or rediscount bills of exchange or other commercial papers for long terms.
Fixed Reverse Repo Rate (RRR)	3.35%	It is the rate of interest at which the central bank (RBI) borrows money from commercial banks within the country.
Cash Reserve Ratio (CRR)	4.50%	CRR is a specified minimum fraction of the total deposits of customers, which commercial banks must hold as reserves either in cash or as deposits with the central bank.
Statutory Liquidity Ratio (SLR)	18.00%	SLR is the Govt term for the reserve requirement that commercial banks are required to maintain in the form of cash, gold reserves, RBI- approved securities before providing credit to the customers.

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