The answer to the above question is (d) i.e. all the statement | ECONOMY by VIVEK SINGH

The answer to the above question is (d) i.e. all the statements are true.
Under LTRO, RBI provides funds to the banks through auction. RBI says that I will give funds to that bank which offers maximum interest rate (above repo rate). This increases the liquidity in the economy and brings down the interest rate and yield (interest rate and yield are directly proportional). (Ofcourse if the funds are available in the market at 7% then under LTRO banks will quote a maximum interest rate below 7% because anyway they can get funds from the market @7%).

SOMETIMES/RARELY LTRO CAN BE DONE AT REPO RATE AND THAT IS CALLED FIXED TERM REPO OPERATION otherwise it is generally (variable) Term Repo Operation.

Explanation of (iii) statement.
Suppose RBI was reducing the repo rate because of which market interest rate (deposit and lending rate) was coming down. But after certain level suppose RBI does not want to reduce the repo rate BUT it wants that interest rate should come down in the economy further then RBI can pump more liquidity (through OMO/LTRO) which will ultimately result in lowering the interest rate.