Answer-The Reserve Bank of India (RBI), based on the recommendations of the Committee on the MIBOR Benchmar...

The Mumbai Interbank Outright Rate MIBOR has long been the primary rupee interest rate benchmark in India. However, due to limitations in depth and representativeness, the RBI constituted a Committee on the MIBOR Benchmark, chaired by Shri Ramanathan Subramanian, to review its adequacy. The committee recommended developing a benchmark rate based on secured money markets covering transactions like basket repos and TREPs. As a result, the RBI proposed introducing the Secured Overnight Rupee Rate SORR as the new benchmark. This rate is intended to be more robust, transparent, and reflective of actual secured funding costs.

Question

The Reserve Bank of India (RB

I , based on the recommendations of the Committee on the MIBOR Benchmark, has proposed replacing the existing MIBOR with a new benchmark rate. What is the name of this new rate?

A Secured Overnight Repo Rate (SORR)

B Secured Overnight Rupee Rate (SORR)

C Secured Overnight Financing Rate (SOFR)

D Secured Overnight Interbank Rate (SOIR)

E Treasury Repo Benchmark Rate (TRBR)

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