MUMBAI (Reuters) – The Reserve Bank of India cut its key interest rate on Friday for the first time since May 2020, to boost the country’s slowing economy.
The monetary policy committee cut the key lending rate, or repo rate, to 6.25%, along with the standing deposit facility rate to 6.0%.
The RBI also adjusted the marginal standing facility and the Bank Rate to 6.50%. It did not announce any changes to the cash reserve ratio (CRR) that banks are required to hold.
For a timeline of changes to the repo rate, click here.
Here is a timeline of changes to India’s standing deposit facility rate since April 2022.
RATE (%) EFFECTIVE DATE
6.00 07-02-2025
6.25 06-12-2024
6.25 09-10-2024
6.25 08-08-2024
6.25 07-06-2024
6.25 05-04-2024
6.25 08-02-2024
6.25 08-12-2023
6.25 06-10-2023
6.25 08-06-2023
6.25 06-04-2023
6.25 08-02-2023
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
(Reporting by Khushi Malhotra; Editing by Savio D’Souza)
