The Git Create Repository action allows you to initialize a new local repository on your machine.
From the Create Repository tab select the directory where you want to initialize the new repository. The Use Default Local Repository option can be selected to initialize a repository in the directory specified in Tools > Options > Git as the default local repository.
You need to select a directory that exists, otherwise the action will fail. If you run this action against a directory that already contains a repository, no information will be lost or re-written. It can be useful to do this in order to pick up recently added templates.
There are also a number options that can be executed from the Create Repository tab.
Quiet - Suppress output from Git.
Bare - Rather than place the administrative files in <Destination Directory>/.git place all the files in the <Destination Directory>.
Template Directory - Specify the directory to copy the templates from (override the default of <Git Installation Directory>/share/git-core/templates/).
Shared - Specify that the repository will be shared by several users:
Umask/False - User permissions set as umask(2). This is the default when the shared option is not used.
Group/True - Make the repository group writeable.
All/World/Everybody - Same as Group/True option except the repository is readable by all users.
0xxx: - This option allows you to specify the umask file mode permissions by specifying an octal number.
For more information on creating a git repository, see: git init