Timeline: Changes to reverse repo rate since 2001
The RBI cut its policy rate by 25 basis points on March 19 for the second time since the start of 2013 to help revive flagging growth, but warned that scope for further policy easing was limited.
April 02, 2013 / 20:39 IST
The RBI cut its policy rate by 25 basis points on March 19 for the second time since the start of 2013 to help revive flagging growth, but warned that scope for further policy easing was limited.
The Reserve Bank of India cut the key repo rate to 7.50 percent, as forecast by a Reuters poll. Subsequently, the reverse repo rate fell to 6.50 percent.The RBI kept the cash reserve ratio (CRR), the share of deposits banks must keep with the central bank, steady at 4.00 percent.It also left the minimum requirement for banks' government bond holdings at 23 percent of deposits.Also Read Timeline: Changes to repo rate since June 2000Following is a timeline of changes to the reverse repo rate since February 2001.* RATE (percent) EFFECTIVE DATE (day-month-year)6.50 19-03-20136.75 29-01-20137.00 17-04-20127.50 25-11-20117.25 16-09-20117.00 26-07-20116.50 16-06-20116.25 03-05-20115.75 17-03-20115.50 25-01-20115.25 02-11-20105.00 16-09-20104.50 27-07-20104.00 02-07-20103.75 20-04-20103.50 19-03-20103.25 21-04-20093.50 04-03-20094.00 02-01-20095.00 08-12-20086.00 25-07-20065.75 08-06-20065.50 24-01-20065.25 26-10-20055.00 29-04-20054.75 27-10-20044.50 25-08-20035.00 03-03-20035.50 30-10-20025.75 27-06-20026.00 05-03-20026.50 28-05-20016.75 27-04-20017.00 02-03-20017.50 20-02-2001* Note: Prior to October 29, 2004, the reverse repo rate was known as the repo rate. For further details, please see central bank's website: www.rbi.org.in. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
