Explanation:

- Option 1: Comptroller and Auditor General of India

- This is not correct. The Comptroller and Auditor General (CAG) audits government expenditures and ensures transparency, but does not set monetary policy.

- Option 2: Reserve Bank of India

- This is correct. The Reserve Bank of India (RBI) is responsible for setting the Repo Rate and Reverse Repo Rate. These rates are critical tools for controlling inflation and stabilizing the currency.

- Option 3: Ministry of Finance

- Incorrect in this context. While it formulates economic policy, it does not directly fix the Repo or Reverse Repo Rates.

- Option 4: State Bank of India

- This is incorrect. SBI is a commercial bank, not a regulator of monetary policy.