How does reverse repo rate affect money supply? What is the impact of increase/ decrease of reverse repo rate on Monetary Base, Money multiplier and therefore, overall money supply?
Reverse Repo Rate (RRR) is the rate at which the central bank "borrows" money from commercial banks. (In practical terms it refers to the surplus funds that these commercial banks park with the central bank.)

This leads to a FALL in the total money supply as it soaks liquidity from the market. 

This reduction in total cash flow in economy (which is now lying stagnant at the central bank) implies a weakened monetary base and reduced capability of banks to "create" more money as they are left with little real cash to extend loans upon given the cash reserve ratio requirements.