RBI cuts repo rate by 25 bps! Your bank will slash fixed deposit rates now? Check what top banks are offering on FDs
The repo rate, set by the RBI, influences borrowing costs for banks. A higher repo rate raises FD interest rates, attracting deposits, while a lower rate reduces FD returns by making borrowing cheaper.
A repo is a short-term borrowing transaction to sell securities and repurchase them later at a slightly higher price.
The term "reverse repo rate" refers to the interest rate that is paid on deposits. The Reserve Bank of India pays interest on deposits at the reverse repo rate, whereas the repo rate is paid ...
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