E-Paper
Timeline: Changes to India s repo rate since June 2000
The 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 a spree of reforms to boost growth and improve its fiscal position.
The 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 a spree of reforms to boost growth and improve its fiscal position.
The RBI held the policy repo rate at 8 percent 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 repo rate since June 2000.
* RATE (percent) EFFECTIVE DATE (day-month-year)
8.00 17-04-2012
8.50 25-10-2011
8.25 16-09-2011
8.00 26-07-2011
7.50 16-06-2011
7.25 03-05-2011
6.75 17-03-2011
6.50 25-01-2011
6.25 02-11-2010
6.00 16-09-2010
5.75 27-07-2010
5.50 02-07-2010
5.25 20-04-2010
5.00 19-03-2010
4.75 21-04-2009
5.00 04-03-2009
5.50 02-01-2009
6.50 08-12-2008
7.50 03-11-2008
8.00 20-10-2008
9.00 29-07-2008
8.50 24-06-2008
8.00 11-06-2008
7.75 30-03-2007
7.50 31-01-2007
7.25 30-10-2006
7.00 25-07-2006
6.75 08-06-2006
6.50 24-01-2006
6.25 26-10-2005
6.00 31-03-2004
7.00 19-03-2003
7.10 07-03-2003
7.50 12-11-2002
8.00 28-03-2002
8.50 07-06-2001
8.75 30-04-2001
9.00 09-03-2001
10.00 06-11-2000
10.25 13-10-2000
13.50 06-09-2000
15.00 30-08-2000
16.00 09-08-2000
10.00 21-07-2000
9.00 13-07-2000
12.25 28-06-2000
12.60 27-06-2000
13.05 23-06-2000
13.00 22-06-2000
13.50 21-06-2000
14.00 20-06-2000
13.50 19-06-2000
10.85 14-06-2000
9.55 13-06-2000
9.25 12-06-2000
9.05 09-06-2000
9.00 07-06-2000
9.05 05-06-2000
* Note: Prior to Oct. 29 2004 the repo rate was known as the
reverse repo rate. For further details please see central
bank s website:www.rbi.org.in.
(Compiled by Mumbai Treasury Desk)
