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Discussion :: National - Latest Current Affairs (Q.No.1156)

1156. 

The interest rate at which banks can borrow funds from other banks in the Indian interbank market is called_________.

[A]. LIBOR
[B]. MIBOR
[C]. Bank Rate
[D]. Repo Rate

Answer: Option B

Explanation:

The Mumbai Interbank Offer Rate (MIBOR) is one iteration of India's interbank rate, which is the rate of interest charged by a bank on a short-term loan to another bank. This is the interest rate at which banks can borrow funds from other banks in the Indian interbank market. Interbank rates are made available only to the largest and most creditworthy financial institutions.

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