Which Bank has introduced a new interest rate to RBI's Repo Rate?

Current Affairs - 2019

Which Bank has introduced a new interest rate to RBI's Repo Rate?

A)

Axis Bank

B)

State Bank of India

C)

ICICI Bank

D)

Indian Bank

Correct Answer : State Bank of India

India's largest bank State Bank of India has moved to a new interest rate regime on large savings account deposits as well as short-term loans. Earlier, SBI had announced that it will link its interest rate on savings account with a balance above Rs1 lakh and short-term loans like overdraft and cash credit facility to Reserve Bank of India's repo rate, effective 1 May 2019. The interest rates on large SBI savings account deposits and interest rate on some short-term loans will automatically change as and when RBI changes its repo rate. This will help in better transmission of RBI's policy rates into the banking system.

Published On : July 12, 2021

Recently Updated Current Affairs

Q .

When is National Panchayati Raj Day observed?

A)

April 22

B)

April 23

C)

April 24

D)

April 25

Correct Answer : April 24

National Panchayati Raj Day is observed on April 24th every year to commemorate the establishment of the Panchayati Raj system in India.

This system, introduced through the 73rd Constitutional Amendment Act in 1993, empowers local self-governing bodies at the village level, known as Gram Panchayats, promoting participatory democracy and inclusive development.

Published On : April 24, 2024

Q .

Which country appointed Col Edison Napyo as its first Defence Advisor to India?

A)

Fiji

B)

Maldives

C)

Vanuatu

D)

Papua New Guinea

Correct Answer : Papua New Guinea

Papua New Guinea appointed Col Edison Napyo as its first Defence Advisor to India, marking a significant development in bilateral relations between the two countries.

The appointment underscores the warm and friendly relations enjoyed by India and Papua New Guinea, which formalized diplomatic ties in 1976.

Port Moresby serves as the capital of Papua New Guinea, and the currency used is the Papua New Guinean Kina.

Published On : April 24, 2024

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