Repo Rate vs. Bank Rate - 6 Key Differences
The Reserve Bank of India (RBI) reduced the repo rate on 27 March 2020 by 75 basis points (bps). The reduction saw the repo rate reduce to 4. 40% from 5. 15%. Currently, the bank rate is 4. 65%. Any reduction in the bank rate and the repo rate will lead to borrowers getting loans at lower interest rates.