Understanding the History of RBI Repo Rate in India

06 April 2023 /

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RBI Repo Rate History in India

The Reserve Bank of India (RBI) is the central bank of India and is responsible for regulating the monetary policy of the country. One of the tools used by the RBI to regulate the economy is the Repo rate. The Repo rate is the rate at which the RBI lends money to commercial banks.

The Repo rate has been changed multiple times in India’s history, and understanding these changes is crucial to understanding the country’s monetary policy. In this article, we will discuss the history of the RBI Repo rate in India.

History of RBI Repo Rate

The RBI introduced the Repo rate in 1992 as a tool for regulating the country’s monetary policy. Since then, there have been multiple changes to the Repo rate, with the rate going up and down depending on the economic conditions in the country.

In 2000, the RBI began announcing the Repo rate in its monetary policy statements. The rate was initially set at 6%, and there were several changes made to the rate over the years. In 2004, the rate was lowered to 4.5%, and it remained at this level until 2006.

In 2006, the RBI raised the Repo rate to 7.75% due to inflationary pressures. The rate remained at this level until 2008 when it was reduced to 6.5%. The global financial crisis led to a further reduction in the Repo rate to 4.75% in 2009.

Over the next few years, the RBI made several changes to the Repo rate, with the rate going up and down depending on the economic conditions in the country. In 2013, the rate was raised to 8%, and it remained at this level until 2015.

In 2015, the RBI reduced the Repo rate to 7.25%, citing low inflation and weak growth in the economy. The rate was further reduced to 6.5% in 2016 and 6% in 2017. In 2018, the rate was raised to 6.25%, and it remained at this level until 2019.

In 2020, the RBI made several changes to the Repo rate due to the COVID-19 pandemic’s impact on the economy. In March 2020, the rate was reduced to 4.4%, and it was further reduced to 4% in May 2020. In October 2020, the rate was reduced to an all-time low of 3.35%.

RBI Repo Rate History (Updated 2023)

Here is a full detailed updated list of RBI Repo Rates in India or the History of Repo rates (2023)

  • RBI Repo Rate on 06-Apr-2023 was: 6.50% (RBI Current Repo Rate)
  • RBI Repo Rate on 08-Feb-2023 was: 6.50%
  • RBI Repo Rate on 07-Dec-2022 was: 6.25%
  • RBI Repo Rate on 30-Sep-2022 was: 5.90%
  • RBI Repo Rate on 05-Aug-2022 was: 5.40%
  • RBI Repo Rate on 08-Jun-2022 was: 4.90%
  • RBI Repo Rate on 04-May-2022 was: 4.40%
  • RBI Repo Rate on 08-Apr-2022 was: 4%
  • RBI Repo Rate on 10-Feb-2022 was: 4%
  • RBI Repo Rate on 08-Dec-2021 was: 4%
  • RBI Repo Rate on 09-Oct-2021 was: 4%
  • RBI Repo Rate on 06-Aug-2021 was: 4%
  • RBI Repo Rate on 04-Jun-2021 was: 4%
  • RBI Repo Rate on 07-Apr-2021 was: 4%
  • RBI Repo Rate on 05-Feb-2021 was: 4%
  • RBI Repo Rate on 04-Dec-2020 was: 4%
  • RBI Repo Rate on 09-Oct-2020 was: 4%
  • RBI Repo Rate on 06-Aug-2020 was: 4%
  • RBI Repo Rate on 22 May 2020 was: 4%
  • RBI Repo Rate on 27-Mar-2020 was: 4.4%
  • RBI Repo Rate on 06-Feb-2020 was: 5.15%
  • RBI Repo Rate on 05-Dec-2019 was: 5.15%
  • RBI Repo Rate on 04-Oct-2019 was: 5.15%
  • RBI Repo Rate on 07-Aug-2019 was: 5.4% R
  • BI Repo Rate on 06-Jun-2019 was: 5.75%
  • RBI Repo Rate on 04-Apr-2019 was: 6%
  • RBI Repo Rate on 07-Feb-2019 was: 6.25%
  • RBI Repo Rate on 01-Aug-2018 was: 6.5%
  • RBI Repo Rate on 06-Jun-2018 was: 6.25%
  • RBI Repo Rate on 07-Feb-2018 was: 6%
  • RBI Repo Rate on 02-Aug-2017 was: 6%
  • RBI Repo Rate on 04-Oct-2016 was: 6.25%
  • RBI Repo Rate on 05-Apr-2016 was: 6.5%
  • RBI Repo Rate on 29-Sep-2015 was: 6.75%
  • RBI Repo Rate on 02-Jun-2015 was: 7.25%
  • RBI Repo Rate on 04-Mar-2015 was: 7.5%
  • RBI Repo Rate in 15-Jan-2015 was: 7.75%
  • RBI Repo Rate on 28-Jan-2014 was: 8%
  • RBI Repo Rate on 29-Oct-2013 was: 7.75%
  • RBI Repo Rate on 20-Sep-2013 was: 7.5%
  • RBI Repo Rate on 03-May-2013 was: 7.25%
  • RBI Repo Rate on 17-Mar-2011 was: 6.75%
  • RBI Repo Rate on 25-Jan-2011 was: 6.5%
  • RBI Repo Rate on 02-Nov-2010 was: 6.25%
  • RBI Repo Rate on 16-Sep-2010 was: 6%
  • RBI Repo Rate on 27-Jul-2010 was: 5.75%
  • RBI Repo Rate on 02-Jul-2010 was: 5.5%
  • RBI Repo Rate on 20-Apr-2010 was: 5.25%
  • RBI Repo Rate on 19-Mar-2010 was: 5%
  • RBI Repo Rate on 21-Apr-2009 was: 4.75%
  • RBI Repo Rate on 05-Mar-2009 was: 5%
  • RBI Repo Rate on 05-Jan-2009 was: 5.5%
  • RBI Repo Rate on 08-Dec-2008 was: 6.5%
  • RBI Repo Rate on 03-Nov-2008 was: 7.5%
  • RBI Repo Rate on 20-Oct-2008 was: 8%
  • RBI Repo Rate on 30-Jul-2008 was: 9%
  • RBI Repo Rate on 25-Jun-2008 was: 8.5%
  • RBI Repo Rate on 12-Jun-2008 was: 8%
  • RBI Repo Rate on 30-Mar-2007 was: 7.75%
  • RBI Repo Rate on 31-Jan-2007 was: 7.5%
  • RBI Repo Rate on 30-Oct-2006 was: 7.25%
  • RBI Repo Rate on 25-Jul-2006 was: 7%
  • RBI Repo Rate on 24-Jan-2006 was: 6.5%
  • RBI Repo Rate on 24-Jan-2006 was: 6.5%
  • RBI Repo Rate on 26-Oct-2005 was: 6.25%
  • RBI Repo Rate on 26-Oct-2005 was: 6.25%
  • RBI Repo Rate on 31-Mar-2004 was: 6%
  • RBI Repo Rate on 19-Mar-2003 was: 7%
  • RBI Repo Rate on 07-Mar-2003 was: 7.1%
  • RBI Repo Rate on 12-Nov-2002 was: 7.5%
  • RBI Repo Rate on 28-Mar-2002 was: 8%
  • RBI Repo Rate on 07-Jun-2001 was: 8.5%
  • RBI Repo Rate on 30-Apr-2001 was: 8.75%
  • RBI Repo Rate on 09-Mar-2001 was: 9%
  • RBI Repo Rate on 06-Nov-2000 was: 10%
  • RBI Repo Rate on 13-Oct-2000 was: 10.25%
  • RBI Repo Rate on 06-Sep-2000 was: 13.5%
  • RBI Repo Rate on 30-Aug-2000 was: 15%
  • RBI Repo Rate on 09-Aug-2000 was: 16%
  • RBI Repo Rate on 21-Jul-2000 was: 10%
  • RBI Repo Rate on 13-Jul-2000 was: 9%
  • RBI Repo Rate on 28-Jun-2000 was: 12.25%
  • RBI Repo Rate on 27-Jun-2000 was: 12.6%
  • RBI Repo Rate on 23-Jun-2000 was: 13.05%
  • RBI Repo Rate on 22-Jun-2000 was: 13%
  • RBI Repo Rate on 21-Jun-2000 was: 13.5%
  • RBI Repo Rate on 20-Jun-2000 was: 14%
  • RBI Repo Rate on 19-Jun-2000 was: 13.5%
  • RBI Repo Rate on 14-Jun-2000 was: 10.85%
  • RBI Repo Rate on 13-Jun-2000 was: 9.55%
  • RBI Repo Rate on 12-Jun-2000 was: 9.25%
  • RBI Repo Rate on 09-Jun-2000 was: 9.05%
  • RBI Repo Rate on 07-Jun-2000 was: 9%
  • RBI Repo Rate on 05-Jun-2000 was: 9.05%

So that is all the updates of RBI repo rates in India from 2000 to 2023.

Conclusion

Understanding the history of the RBI Repo rate in India is crucial to understanding the country’s monetary policy. The rate has been changed multiple times over the years, with the rate going up and down depending on the economic conditions in the country.

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