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Repo rate and basis points

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(Querist)
16 August 2008 Please explain Repo rate and basis points.
Please refer the following sentence -
"In the last fortnight we witnessed the RBI increase the Repo Rate by 50 basis points to 9.0 per cent"
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
16 August 2008 Repo rate is the rate at which RBI is willing to lend to banks. basis points is nothing but the rate expressed per 1000.
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Miss Komal Mantri

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Miss Komal Mantri (Expert)
16 August 2008 I think 50 basis points means 0.5% i.e. per 10000
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