Timeline: Changes to reverse repo rate since 2001

MUMBAI Tue Jan 29, 2013 1:52pm IST

An employee arranges currency notes at a cash counter inside a bank in Agartala February 18, 2010. REUTERS/Jayanta Dey/Files

An employee arranges currency notes at a cash counter inside a bank in Agartala February 18, 2010.

Credit: Reuters/Jayanta Dey/Files

Related Topics

MUMBAI (Reuters) - India's central bank reduced its policy interest rate by a widely expected 25 basis points on Tuesday, taking comfort from cooling inflation as it made the first cut in nine months to support an economy headed for its slowest growth in a decade.

The Reserve Bank of India cut its key repo rate to 7.75 percent, as forecast by a Reuters poll. Subsequently, the reverse repo rate fell to 6.75 percent.

The RBI unexpectedly also reduced the cash reserve ratio (CRR), the share of deposits banks must keep with the central bank, by 25 bps to 4.00 percent, which will infuse an additional 180 billion rupees into the banking system.

(For main story -- RBI cuts repo rate, CRR by 25 basis points, click here)

It left the minimum requirement for banks' government bond holdings at 23 percent of deposits.

Following is a timeline of changes to the reverse repo rate since February 2001.

* RATE (percent) EFFECTIVE DATE (day-month-year)

6.75 29-01-2013

7.00 17-04-2012

7.50 25-11-2011

7.25 16-09-2011

7.00 26-07-2011

6.50 16-06-2011

6.25 03-05-2011

5.75 17-03-2011

5.50 25-01-2011

5.25 02-11-2010

5.00 16-09-2010

4.50 27-07-2010

4.00 02-07-2010

3.75 20-04-2010

3.50 19-03-2010

3.25 21-04-2009

3.50 04-03-2009

4.00 02-01-2009

5.00 08-12-2008

6.00 25-07-2006

5.75 08-06-2006

5.50 24-01-2006

5.25 26-10-2005

5.00 29-04-2005

4.75 27-10-2004

4.50 25-08-2003

5.00 03-03-2003

5.50 30-10-2002

5.75 27-06-2002

6.00 05-03-2002

6.50 28-05-2001

6.75 27-04-2001

7.00 02-03-2001

7.50 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.

(Compiled by Shamik Paul)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Adani Project

Adani Project

Australia approves Adani's $16 bln Carmichael coal project  Full Article 

India-U.S. Talks

India-U.S. Talks

Kerry to woo Modi's India, but quick progress unlikely  Full Article 

Paring Debt

Paring Debt

Jaiprakash to sell hydro plants to Reliance Power  Full Article 

Nifty Falls

Nifty Falls

The broader index hits lowest in nearly a week on profit taking  Full Article 

Mideast Conflict

Mideast Conflict

U.N. Security Council calls for humanitarian ceasefire in Gaza  Full Article 

Market Eye

Market Eye

Foreign investors prefer Indian cyclicals, utilities - Macquarie  Full Article 

Debt Investment

Debt Investment

India's FII debt limit hike credit-positive, says Moody's  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage