Question : What is the minimum base rate fixed by RBI as of 2023?
Option 1: 8.30%
Option 2: 8.25%
Option 3: 9.30%
Option 4: 10.00%
Correct Answer: 9.30%
Solution : The correct option is 9.30%.
The Reserve Bank of India sets a minimum rate below which banks in India are not allowed to lend to their customers. This minimum rate is called the Base Rate in banking terms. The minimum base rate fixed by RBI as of 2023 is 9.30%.
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