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What is the meaning of repo rate by RBI of India
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Answer Posted / shinoj.k.s.
A Repurchase agreement (also known as a repo or Sale and
Repurchase Agreement) allows a borrower to use a financial
security as collateral for a cash loan at a fixed rate of
interest. In a repo, the borrower agrees to sell
immediately a security to a lender and also agrees to buy
the same security from the lender at a fixed price at some
later date. A repo is equivalent to a cash transaction
combined with a forward contract. The cash transaction
results in transfer of money to the borrower in exchange
for legal transfer of the security to the lender, while the
forward contract ensures repayment of the loan to the
lender and return of the collateral of the borrower. The
difference between the forward price and the spot price is
the interest on the loan while the settlement date of the
forward contract is the maturity date of the loan.
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