Present rbi repo and reverse repo rate
The base rate is decided by the banks. It is within the rights of the bank management to change it. The RBI does not directly control it, though it influences it through the repo rate and other instruments. When the RBI cuts the repo rate, for instance, banks may lower the base rate. The rate at which RBI provides interest to Banks for depositing funds is called the reverse repo rate. The reverse repo rate is thus the rate at which the RBI borrows money from the banks, instead of lending money to them. A reverse repo rate is, however, lower than a repo rate and is often used to control cash flow.