MUMBAI (Reuters) – The Reserve Bank of India’s key policy repo rate was raised by 50 basis points on Friday, the third increase in the current cycle to cool stubbornly high inflation that has remained above the central bank’s tolerance band for six straight months.
The monetary policy committee raised the key lending rate or the repo rate by 50 basis points to 5.40%.
The Standing Deposit Facility Rate and the Marginal Standing Facility rate were also adjusted higher by the same margin.
The reverse repo rate remained unchanged at 3.35%.
For a timeline of changes to the repo rate see
For a timeline of changes to the reverse repo rate see
Below is a timeline of changes to India’s standing deposit facility rate since April 2022.
*RATE (%) EFFECTIVE DATE
5.15 05-08-2022
4.65 08-06-2022
4.15 04-05-2022
3.75 08-04-2022
(Compiled by Swati Bhat; Editing by Rashmi Aich)
