Repo Rates and Reverse Repo Rates?

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Repo rate, also called repurchase rate, is the rate of interest that banks pay when they borrow money from the Reserve Bank of India to meet their short-term fund requirements. This is called repurchase rate because when they borrow money from the RBI, they keep government
securities with the central bank as collateral. When they pay the money back to RBI, they take the collateral back. Reverse repo rate is the rate of interest that banks get when they keep their surplus money with the RBI. Repo rate is always higher than the reverse repo rate. At present, the repo rate is 7.50% per annum and the reverse repo rate is 6.50%. By controlling these rates, the RBI controls the rate of interest in the economy. On Friday, the RBI unexpectedly raised repo rate by 25 basis points from 7.25% and that led to a lot of volatility in both the bond and the equity markets.

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Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

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