Question
General Knowledge Question on General Knowledge Based
Given below are two statements:
Statement I : Repo rate is the rate, at which RBI lends short-term money to the banks against security.
Statement II : Reverse repo rate is always 100 base point, 1% less than Repo rate.
In the light of the above statements, choose the most appropriate answer from the options given below:
A
Both Statement I and Statement II are correct
B
Both Statement I and Statement II are incorrect
C
Statement I is correct but Statement II is incorrect
D
Statement I is incorrect but Statement II is correct
Answer
Statement I is correct but Statement II is incorrect
Explanation
Solution
The correct option is(C): Statement I is correct but Statement II is incorrect