The history of changes to India's key rates - NDTV

Reserve Bank of India Governor Raghuram Rajan surprised markets in his maiden policy review on Friday by raising interest rates to ward off rising inflation, while scaling back some emergency measures recently taken to support the ailing rupee. Mr Rajan, who took office early this month amid India's worst economic crisis since 1991, increased the repo rate by 25 basis points (bps), or 0.25 per cent, to 7.50 per cent, defying most forecasts that he would leave it on hold to bolster a sluggish economy. The apex bank reduced the marginal standing facility (MSF) rate to 9.50 per cent, which makes it cheaper for banks to borrow. Since the middle of July, the MSF has been widely been viewed as India's effective policy rate. Here is a timeline of changes to the reverse repo rate since February 2001. Rate Effective date 6.50 20-09-2013 6.25 03-05-2013 6.50 19-03-2013 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. Cash reserve ratio since 1992 RATE (percent) EFFECTIVE DATE (day-month-year) 4.00 09-02-2013 4.25 03-11-2012 4.50 22-09-2012 4.75 10-03-2012 5.50 28-01-2012 6.00 24-04-2010 5.75 27-02-2010 5.50 13-02-2010 5.00 17-01-2009 5.50 08-11-2008 6.00 01-11-2008 6.50 15-10-2008 7.50 11-10-2008 9.00 30-08-2008 8.75 19-07-2008 8.50 05-07-2008 8.25 24-05-2008 8.00 10-05-2008 7.75 26-04-2008 7.50 10-11-2007 7.00 04-08-2007 6.50 28-04-2007 6.25 14-04-2007 6.00 03-03-2007 5.75 17-02-2007 5.50 08-12-2006 5.00 02-10-2004 4.75 18-09-2004 4.50 14-06-2003 4.75 16-11-2002 5.00 01-06-2002 5.50 29-12-2001 5.75 03-11-2001 7.50 19-05-2001 8.00 10-03-2001 8.25 24-02-2001 8.50 12 -08-2000 8.25 29-07-2000 8.00 22-04-2000 8.50 08-04-2000 9.00 20-11-1999 9.50 06-11-1999 10.00 08-05-1999 10.50 13-03-1999 11.00 29-08-1998 10.00 11-04-1998 10.25 28-03-1998 10.50 17-01-1998 10.00 06-12-1997 9.50 22-11-1997 9.75 25-10-1997 10.00 18-01-1997 10.50 04-01-1997 11.00 09-11-1996 11.50 26-10-1996 12.00 06-07-1996 13.00 11-05-1996 13.50 27-04-1996 14.00 09-12-1995 14.50 11-11-1995 15.00 06-08-1994 14.75 09-07-1994 14.50 11-06-1994 14.00 15-05-1993 14.50 17-04-1993 15.00 08-10-1992 Statutory liquidity ratio (SLR) since 1949 23.00 11-08-2012 24.00 18-12-2010 25.00 07-11-2009 24.00 08-11-2008 25.00 25-10-1997 31.50 29-10-1994 33.75 17-09-1994 34.25 20-08-1994 34.75 16-10-1993 37.25 18-09-1993 37.50 21-08-1993 37.75 06-03- 1993 38.00 06-02-1993 38.25 09-01-1993 38.50 29-02-1992 38.50 22-09-1990 38.00 02-01-1988 37.50 25-04-1987 37.00 06-07-1985 36.50 08-06-1985 36.00 01-09-1984 35.50 28-07-1984 35.00 30-10-1981 34.50 25-09-1981 34.00 01-12-1978 33.00 01-07-1974 32.00 08-12-1973 30.00 17-11-1972 29.00 04-08-1972 28.00 28-08-1970 27.00 24-04-1970 26.00 05-02-1970 25.00 16-09-1964 20.00 16-03-1949 Copyright @ Thomson Reuters 2013 via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNG4g4ZdGXq_nJraf1kzVYTCM_NjWQ&url=http://profit.ndtv.com/news/economy/article-the-history-of-changes-to-indias-key-rates-327497

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