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 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 2% of deposits.
Following is a timeline of changes to the reverse repo rate since February 2001
* RATE (%)EFFECTIVE DATE (day-month-year)
7.00 17-04-2012
7.50 25-11-2011
7.25 16-09-2011
7.00 26-07-2011
6.50 16-06-2011
6.25 03-05-2011
5.75 17-03-2011
5.50 25-01-2011
5.25 02-11-2010
5.00 16-09-2010
4.50 27-07-2010
4.00 02-07-2010
3.75 20-04-2010
3.50 19-03-2010
3.25 21-04-2009
3.50 04-03-2009
4.00 02-01-2009
5.00 08-12-2008
6.00 25-07-2006
5.75 08-06-2006
5.50 24-01-2006
5.25 26-10-2005
5.00 29-04-2005
4.75 27-10-2004
4.50 25-08-2003
5.00 03-03-2003
5.50 30-10-2002
5.75 27-06-2002
6.00 05-03-2002
6.50 28-05-2001
6.75 27-04-2001
7.00 02-03-2001
7.50 20-02-2001
*Note: Prior to October 29, 2004 the reverse repo rate was known as the repo rate. For further details please see the bank's website: www.rbi.org.in.