Which of the organizations decides Bank Rate
The Reserve Bank of India sets the bank rate. The fact that the pace changes does not mean that a set schedule has already been created; on the contrary. The frequency of repo rate adjustments depends on the status of the economy at any given period. The interest rate is determined by the central bank of a nation, which also controls the banking sector and the amount of money in circulation. This is frequently done every three months to keep the nation's currency rates stable and keep inflation under control. A change in the bank rate has a ripple effect on a nation's economy, affecting every sector of the economy.
☛ Related Questions