Repo rate is the rate at which banks borrow funds from the

RBI to meet the gap between the demand they are facing for

money (loans) and how much they have on hand to lend.

and

Bank rate, also referred to as the discount rate, is the

rate of interest which a central bank charges on the loans

and advances that it extends to commercial banks and other

financial intermediaries. Changes in the bank rate are

often used by central banks to control the money supply.