MUMBAI (Reuters) – The Reserve Bank of India (RBI) kept its key interest rate unchanged on Friday but cut the cash reserve ratio (CRR) that banks are required to hold for the first time in more than four years, effectively easing monetary conditions as economic growth slows.
The monetary policy committee kept the key lending rate, or repo rate, unchanged at 6.50%, but the CRR was cut by 50 basis points to 4%, effective in two tranches on Dec. 14 and Dec. 28. The cut was the first since March 2020.
For a timeline of changes to the standing deposit facility rate, click here.
For a timeline of changes to India’s repo rate, click here.
Here is a timeline of changes to the CRR since 1992.
RATE (percent) EFFECTIVE DATE (day-month-year)
4.00 28-12-2024
4.25 14-12-2024
4.50 27-05-2022
4.00 28-05-2021
3.50 21-03-2021
3.00 27-03-2020
4.00 09-02-2013
4.25 03-11-2012
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
(This story has been corrected to say ‘1992,’ instead of ‘June 2000,’ in the headline)
(Reporting by Siddhi Nayak)
