E-Paper
TIMELINE-Changes to India's cash reserve ratio since 1992
Reserve Bank of India left interest rates unchanged but cut the cash reserve ratio for banks saying the primary focus of monetary policy remains fighting inflation days after the government unveiled reforms to boost growth and improve its fiscal position.
Reserve Bank of India left interest rates unchanged but cut the cash reserve ratio for banks saying the primary focus of monetary policy remains fighting inflation days after the government unveiled reforms to boost growth and improve its fiscal position.
The Reserve Bank of India held the policy repo rate at 8% and subsequently the reverse repo rate was left unchanged at 7.00%.
The RBI cut the cash reserve ratio the share of deposits banks must keep with the central bank by 25 basis points to 4.5%.
It also left the minimum requirement for banks government bond holdings at 23% of deposits.
Following is a timeline of changes to the CRR since 1992.
RATE (%) EFFECTIVE DATE (day-month-year)
4.50 22-09-2012
4.75 10-03-2012
5.50 28-01-2012
6.00 24-04-2010
5.75 27-02-2010
5.50 13-02-2010
5.00 17-01-2009
5.50 08-11-2008
6.00 01-11-2008
6.50 15-10-2008
7.50 11-10-2008
9.00 30-08-2008
8.75 19-07-2008
8.50 05-07-2008
8.25 24-05-2008
8.00 10-05-2008
7.75 26-04-2008
7.50 10-11-2007
7.00 04-08-2007
6.50 28-04-2007
6.25 14-04-2007
6.00 03-03-2007
5.75 17-02-2007
5.50 08-12-2006
5.00 02-10-2004
4.75 18-09-2004
4.50 14-06-2003
4.75 16-11-2002
5.00 01-06-2002
5.50 29-12-2001
5.75 03-11-2001
7.50 19-05-2001
8.00 10-03-2001
8.25 24-02-2001
8.50 12-08-2000
8.25 29-07-2000
8.00 22-04-2000
8.50 08-04-2000
9.00 20-11-1999
9.50 06-11-1999
10.00 08-05-1999
10.50 13-03-1999
11.00 29-08-1998
10.00 11-04-1998
10.25 28-03-1998
10.50 17-01-1998
10.00 06-12-1997
9.50 22-11-1997
9.75 25-10-1997
10.00 18-01-1997
10.50 04-01-1997
11.00 09-11-1996
11.50 26-10-1996
12.00 06-07-1996
13.00 11-05-1996
13.50 27-04-1996
14.00 09-12-1995
14.50 11-11-1995
15.00 06-08-1994
14.75 09-07-1994
14.50 11-06-1994
14.00 15-05-1993
14.50 17-04-1993
15.00 08-10-1992
