What is repo rate and reverse repo rate? What effect does the fluctuation affect on the common man?

What is repo rate and reverse repo rate? What effect does the fluctuation affect on the common man?

 Repo Rate: The repo rate is the rate at which rate of interest is given to all banks of the country at the rate of the Reserve Bank of India interest rate in general language. Banks will benefit from this rate because they have to pay less to the RBI.

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When the repurchase rate is lowered by 25 basis points by the RBI, the possibility of repaying the repo rate, reverse repo rate and the impact of it will be seen in the market.
 RBI has reduced the repo rate. RBI has announced that the repo rate has been reduced by 25 basis points. After the decline, the repo rate will be 6.25 percent. Even when RBI reduced the repo rate, it is also necessary to understand the common man how to benefit from it. What is a repo rate, when RBI has reduced the repo rate? What is Reverse Repo Rate? What is the impact of its increase on the common man?
And if the rate increases, the banks will have to pay the higher rate of interest to the RBI.
Impact: If the repo rate increases, then the rate of interest of different types of loan can increase in the country. The interest rate on EMI could increase and the budget of the common man was dropped. If the repo rate decreases, the bank can reduce its interest rate, some loans including home loans can be cheaper. But whether this loan rate is reduced or not depends on the bank.
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Reverse Repo Rate: Reverse Repo Rate means the rate of interest that banks charge on interest from RBI and pay them the interest rate. Under normal circumstances, RBI uses reverse repo rate as a weapon to control the supply of money supply in the country.
What impact: if the reverse repo rate increases, the supply of the money can fall in the market. When the reverse repo rate rises, commercial banks get more interest from the RBI. In this situation, banks can lend their money to the RBI and reduce the supply of money in the market.
What is SLR? - The bank, which lends its money to the government, is called SLR. SLR is used to control cash quantity. Commercial banks have to deposit a specific amount to the government, which they can use during an emergency, it is called SLR.
What is CRR? -CRR means Cash Reserve Ratio Under the banking rules, all banks have to deposit a certain portion of their deposit to the RBI. Cash Reserve Ratio

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What is MSF? The RBI started the SMF in 2011. Commercial banks can get one per cent of their deposits under the MSF for one night from the RBI.
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What is repo rate and reverse repo rate? What effect does the fluctuation affect on the common man?
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