What is the term used for the interest rate at which the Reserve Bank of India (RBI) lends money to commercial banks?
Question
Solution 1
The term used for the interest rate at which the Reserve Bank of India (RBI) lends money to commercial banks is called the "Repo Rate".
Here are the steps to understand this:
The Reserve Bank of India (RBI) is the central bank of India, which controls the monetary policy of the Indian rupee.
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