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Given below are two statements – one is labelled as Assertion (A) and the other is labelled as Reason (R) :
Assertion (A) : In order to control inflationary tendencies, RBI raises the repo rate
Reason (R) : By so during, RBI wishes to control consumption demand
In the light of the above two statements choose the correct option :
In order to control inflationary tendencies, RBI raises the Repo Rate. Implies reduction in interest Rates which means consumer has to kay lesser amount of interest.