RBI repo rate refers to the rate at which banks can borrow money from RBI to meet their short term requirements for funds.
Banks typically meet their funding needs from deposits. Repo is only a residuary facility. The demand for funds depends on the demand for loans from banks.
Repo rate is a benchmark rate set by the RBI and signals the rates for all other lending and borrowing activities in the system.
Repo is short for repurchase, which refers to the structure of the transaction. Banks offer securities to RBI when they borrow and repurchase them back when returning the money.
A fall in repo rate by 0.25% to 7.25% means the RBI has reduced its lending rates to banks. Banks in turn are expected to reduce their loan and deposit rates to their customers.
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