The Reserve Bank of India (RBI) on Friday delivered a much-anticipated quarter-point rate cut, reducing the repo rate to 5.25% from 5.50%, with the Monetary Policy Committee (MPC) voting unanimously in favour while retaining a neutral stance. The cash reserve ratio (CRR) remains unchanged at 3%, and the standing facility rate has been lowered to 5% from 5.25%.
Repo rate over the past 10 years
This latest rate cut is expected to make credit more affordable and support growth. Here’s a look at how India’s repo rate has evolved over the past 10 years, reflecting shifts across tightening cycles, easing phases, global crises, and inflation shocks –
RBI Repo Rate Changes (2015-2025)
| Date | Repo Rate | Change |
|---|---|---|
| December 5, 2025 | 5.25% | -0.25% |
| October 1, 2025 | 5.50% | No Change |
| August 6, 2025 | 5.50% | No Change |
| June 6, 2025 | 5.50% | -0.50% |
| April 9, 2025 | 6.00% | -0.25% |
| February 7, 2025 | 6.25% | -0.25% |
| 2024 | ||
| December 12, 2024 | 6.50% | No Change |
| October 9, 2024 | 6.50% | No Change |
| August 8, 2024 | 6.50% | No Change |
| June 6, 2024 | 6.50% | No Change |
| April 5, 2024 | 6.50% | No Change |
| February 8, 2024 | 6.50% | No Change |
| 2023 | ||
| December 8, 2023 | 6.50% | No Change |
| October 6, 2023 | 6.50% | No Change |
| June 8, 2023 | 6.50% | No Change |
| April 6, 2023 | 6.50% | No Change |
| February 8, 2023 | 6.50% | +0.25% |
| 2022 | ||
| December 7, 2022 | 6.25% | +0.35% |
| September 30, 2022 | 5.90% | +0.50% |
| August 5, 2022 | 5.40% | +0.50% |
| June 8, 2022 | 4.90% | +0.50% |
| May 4, 2022 | 4.40% | +0.40% |
| 2020 | ||
| May 22, 2020 | 4.00% | -0.40% |
| March 27, 2020 | 4.40% | -0.75% |
| February 6, 2020 | 5.15% | No Change |
| 2019 | ||
| December 5, 2019 | 5.15% | No Change |
| October 4, 2019 | 5.15% | -0.25% |
| August 7, 2019 | 5.40% | -0.35% |
| June 6, 2019 | 5.75% | -0.25% |
| April 4, 2019 | 6.00% | -0.25% |
| February 7, 2019 | 6.25% | -0.25% |
| 2018 | ||
| August 1, 2018 | 6.50% | +0.25% |
| June 6, 2018 | 6.25% | +0.25% |
| 2017 | ||
| August 2, 2017 | 6.00% | -0.25% |
| 2016 | ||
| October 4, 2016 | 6.25% | -0.25% |
| April 5, 2016 | 6.50% | -0.25% |
| 2015 | ||
| September 29, 2015 | 6.75% | -0.50% |
| June 2, 2015 | 7.25% | -0.25% |
| March 4, 2015 | 7.50% | -0.25% |
| January 15, 2015 | 7.75% | -0.25% |
Liquidity measures announced by RBI
Alongside the rate cut, the central bank announced major liquidity-support measures. The RBI will conduct open market operations (OMO) worth Rs 1 lakh crore in government securities this month and a 3-year Dollar–Rupee sell swap of $5 billion, aimed at injecting durable liquidity into the system.