The Reserve Bank of India’s key policy repo rate was raised by 35 basis points on Wednesday, the fifth increase in the current cycle, to tame stubbornly high inflation that has remained above the central bank’s tolerance band for 10 straight months.
The monetary policy committee raised the key lending rate or repo rate to 6.25%.
The standing deposit facility rate and the marginal standing facility rate were also adjusted higher by the same margin.
The reverse repo rate remained unchanged at 3.35%.
Below is a timeline of changes to India’s standing deposit facility rate since April 2022.
*RATE (%) EFFECTIVE DATE
6.00 07-12-2022
5.65 30-09-2022
5.15 05-08-2022
4.65 08-06-2022
4.15 04-05-2022
3.75 08-04-2022
(Compiled by Siddhi Nayak)
