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RBI's 3rd Bi-monthly Monetary Policy Statement 2017-18

RBI's 3rd Bi-monthly Monetary Policy Statement 2017-18 for IBPS PO, IBPS CLERK, INSURANCE EXAMS, RRB OFFICER SCALE 1, RRB ASSISTANT, SBI PO, SBI CLERK

RBI's 3rd Bi-monthly Monetary Policy Statement 2017-18

Essential for All Upcoming Bank Exams
Introduction: 
On 2nd August, 2017, the Reserve Bank of India (RBI) released 3rd (Third) Bi- monthly Monetary Policy Statement, 2017-18 following the approval from Monetary Policy Committee (MPC) to be effective between 1st August, 2017 and 3rd October, 2017. Monetary Policy Rates are very important for Upcoming Banking Exams (IBPS PO, IBPS CLERK, INSURANCE EXAMS, RRB OFFICER SCALE 1, RRB ASSISTANT, SBI PO, and SBI CLERK). The 4th Bi-monthly Monetary Policy Statement 2017-18 will be released by RBI on 4th October, 2017
We have started our series, “e-book on Banking Awareness”, to help you all prepare for Banking Awareness in a better way. 

RBI’s 3rd (Third) Bi- monthly Monetary Policy Statement, 2017-18: Highlights 
The Reserve Bank of India's third bi-monthly statement made the following announcements in 2017-18 – 
Current Policy Rates - 
Repo Rate
6.00%
Reverse Repo Rate
5.75%
Marginal Standing Facility Rate (MSF)
6.25%
Bank Rate
6.25%
Cash Reserve Ratio (CRR)
4%
Statutory Liquidity Ratio (SLR)
20%







Details about Policy Rates: 
Repo Rate – 
This is the rate at which the Reserve Bank pays to the commercial bank. 
Reserve Repo Rate – 
This is the rate at which the Reserve Bank of India receives money from the commercial bank. 
Cash Reserve Ratio (CRR) – 
Banks should be kept as part of the fair demand and time liabilities as cash balances with the Reserve Bank. 
Statutory Liquidity Ratio (SLR) – 
SLR is a term used to control banking in India. It is in the form of cash, gold or authorized securities, balance of current account balance with other commercial banks. 
Bank Rate – 
Often in the form of very short-term loans, a bank rate is the rate of interest that the central bank of a country pays in local banks. Bank rate management system is a method by which central banks influence financial activities. It is also signals the medium-term stance of monetary policy. 
Marginal Standing Facility Rate (MSF) – 
It is a window to take deposits from a Reserve Bank in an emergency where the inter-bank liquidity is completely dry.
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