Q: 94 (CAPF/2013)

Consider the following statements :
1. Repo rate is the interest rate at which RBI lends to commercial banks for short period.
2. Reverse repo rate is the (interest rate which RBI pays to commercial banks on short- term deposits,
3. Gap between repo rate and reverse repo rate has been declining in India in the recent past.
Which of the statements given above is/are not correct?
question_subject: 
Economics
question_year: 
2013
question_exam: 
CAPF
stats: 
0,2232,1616,960,304,2232,352