Chronology-Changes since June 2000

India's central bank unexpectedly cut its repo rate, or the rate at which it lends funds to banks, by 100 basis points to 8.0 per cent on Monday.

India's central bank unexpectedly cut its repo rate, or the rate at which it lends funds to banks, by 100 basis points to 8.0 per cent on Monday.

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The cut, the first in more than four years, came ahead of a policy review scheduled for Friday. The central bank said it was acting to alleviate pressures caused by the global financial crisis.

Following is a chronology of repo rate changes since June 2000. The central bank holds daily repo and reverse repo auctions as part of its liquidity adjustment facility.

Repo rate changes

Rate (per cent)

Effective date

8.00
9.00
8.50
8.00
7.75
7.50
7.25
7.00
6.75
6.50

20-10-2008
29-07-2008
24-06-2008
11-06-2008
30-03-2007
31-01-2007
30-10-2006
|25-07-2006
08-06-2006
24-01-2006