Repo Rate: Interest rates applicable for repurchase transactions of the Central Bank with commercial banks on an over night basis under the standing facility.

Reverse Repo Rate: Interest rates applicable for reverse repurchase transactions of the Central Bank with commercial banks on an over night basis under the standing facility.

Bank Rate: The rate at which the Central Bank grants advances to commercial banks for their temporary liquidity purposes.

Statutory Reserve Requirement: The propotion of rupee deposit liabilities that commercial banks are required to maintain as a deposit with the Central Bank, subject to an allowance for vault cash balances of more than two per cent but not exceeding four per cent of deposit liability, which could be deducted from the requirement.