20 Sep

Current Repo Rate, Reverse Repo Rate, CRR, SLR, MSF & Bank Rate

The new RBI Governor Mr. Raghuram Rajan has raised the repo rate by 25 basis points to 7.5% and reduced the MSF rate by 75 basis points to 9.5% from 10.25%. Other rates such as CRR kept unchanged in his first monetary policy review after taking over as the RBI governor.

These measure were taken to curb the inflation, tighten liquidity and arrest volatility in the foreign exchange market. The RBI also reduced the minimum daily maintenance of the cash reserve ratio from 99% of the requirement to 95%. Reserve Bank of India also said that any further change in the minimum daily maintenance of the CRR is not contemplated.

Current Rates(Updated March 22, 2014):

1) Bank Rate – 9 %

2) Repo Rate – 8 %

3) Reverse Repo Rate – 7 %

4) Cash Reserve Ratio (CRR) – 4 %

5) Statutory Liquidity Ratio (SLR) – 23%

6) Marginal Standing Facility (MSF) – 9 %

Check out the Meaning of Current Repo Rate, Reverse Repo Rate, CRR, SLR, MSF & Bank Rate below:

To download this PDF, visit here.

17 Aug

Types of Cheques in India

Check out the different types of bank cheques in India such as Order Cheque, Bearer Cheque, Blank Cheque, Post dated cheque, open cheque, stale cheque, Traveller’s cheque, etc.


1. Order Cheque: A cheque which is payable to a particular person or his order is called an order cheque.

2. Bearer Cheque: A cheque which is payable to a person whosoever bears, is called bearer cheque.

3. Blank Cheque: A cheque on which the drawer puts his signature and leaves all other columns blank is called a blank cheque.

4. Stale Cheque: The cheque which is more than six months old is a stale cheque.

5. Multilated Cheque: If a cheque is torn into two or more pieces, it is termed as mutilated cheque.

6. Post Dated Cheque: If a cheque bears a date later than the date of issue, it is termed as post dated cheque.

7. Open Cheque: A cheque which has not been crossed is called an open cheque. Even if a cheque is crossed and subsequently the drawer has cancelled the crossing at the request of the payee and affixes his full signature with the words “crossing cancelled pay cash”, it becomes an open cheque.

8. Crossed Cheque: A cheque which carries too parallel transverse lines across the face of the cheque with or without the words “I and co”, is said to be crossed.

9. Gift Cheques: Gift cheques are used for offering presentations on occasions like birthday, weddings and such other situations. It is available in various denominations.

10. Traveller’s Cheques: It is an instrument issued by a bank for remittance of money from one place to another.