Which among the following defines Repo Rate?

• A. The rate at which banks place their surplus funds with the RBI
• B. The rate at which banks can borrow against their excess SLR securities to meet additional liquidity requirements
• C. The rate at which the Reserve Bank is prepared to buy or re-discount bills of exchange or other commercial paper eligible for purchase
• D. The rate at which banks borrow funds from the Reserve Bank against eligible collaterals