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UPSC CAPF Assistant Commandant 2013 Paper

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Question : 19

Total: 125

Consider the following statements
1. Repo Rate is the interest rate at which RBI lends to commercial banks for short period.
2. Reverse Repo Rate is the interest rate which RBI pays to commercial banks on short-term deposits.
3. Gap between Repo Rate and Reverse Repo Rate has been declining in India in the recent past.
Which of the statements above is/are not correct?

Only 1
Only 2
Only 3
2 and 3

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