Question : The monetary policy instrument called "bank rate" is aligned to ______________.
Option 1: liquidity adjustment facility
Option 2: cash reserve ratio
Option 3: discount rate
Option 4: the marginal standing facility rate
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Correct Answer: the marginal standing facility rate
Solution : The correct answer is the marginal standing facility rate .
The marginal standing facility rate is the rate at which banks borrow funds overnight from the Reserve Bank of India against the approved government securities. It is used by the banks to borrow from the RBI in any emergency. The current marginal standing facility rate is 6.75% (Oct. 2023).
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