The repo rate is the interest rate at which the Reserve Bank of India (RBI) lends short-term money to commercial banks. It is one of the primary tools used by the central bank to implement monetary policy and influence liquidity, inflation and interest rates in the economy.
The table below lists historical repo rates compiled from public summaries. These are factual date / rate pairs; please verify against official RBI circulars if you need authoritative confirmation.
| Effective from | Repo Rate |
|---|---|
| 6 June 2025 | 5.50% |
| 9 April 2025 | 6.00% |
| 7 February 2025 | 6.25% |
| 6 December 2024 | 6.50% |
| 9 October 2024 | 6.50% |
| 8 August 2024 | 6.50% |
| 7 June 2024 | 6.50% |
| 8 February 2024 | 6.50% |
| 8 December 2023 | 6.50% |
| 6 October 2023 | 6.50% |
| 10 August 2023 | 6.50% |
| 8 June 2023 | 6.50% |
| 6 April 2023 | 6.50% |
| 8 February 2023 | 6.50% |
| 7 December 2022 | 6.25% |
| 30 September 2022 | 5.90% |
| 5 August 2022 | 5.40% |
| 8 June 2022 | 4.90% |
| 4 May 2022 | 4.40% |
| 8 April 2022 | 4.00% |
| 10 February 2022 | 4.00% |
| 8 December 2021 | 4.00% |
| 8 October 2021 | 4.00% |
| 6 August 2021 | 4.00% |
| 4 June 2021 | 4.00% |
| 5 February 2021 | 4.00% |
| 4 December 2020 | 4.00% |
| 9 October 2020 | 4.00% |
| 6 August 2020 | 4.00% |
| 22 May 2020 | 4.00% |
| 27 March 2020 | 4.40% |
| 6 February 2020 | 5.15% |
| 5 December 2019 | 5.15% |
| 4 October 2019 | 5.15% |
| 7 August 2019 | 5.40% |
| 6 June 2019 | 5.75% |
| 4 April 2019 | 6.00% |
| 7 February 2019 | 6.25% |
| 5 December 2018 | 6.50% |
| 5 October 2018 | 6.50% |
| 1 August 2018 | 6.50% |
| 6 June 2018 | 6.25% |
| 5 April 2018 | 6.00% |
| 7 February 2018 | 6.00% |
| 6 December 2017 | 6.00% |
| 4 October 2017 | 6.00% |
| 7 June 2017 | 6.25% |
| 9 August 2016 | 6.50% |
| 5 April 2016 | 6.50% |
| 2 February 2016 | 6.75% |
| 1 December 2015 | 6.75% |
| 4 August 2015 | 7.25% |
| 2 June 2015 | 7.25% |
| 7 April 2015 | 7.50% |
| 3 February 2015 | 7.75% |
| 2 December 2014 | 8.00% |
| 18 December 2013 | 7.75% |
| 29 October 2013 | 7.75% |
| 17 June 2013 | 7.25% |
| 17 March 2011 | 6.75% |
| 25 January 2011 | 6.50% |
| 2 November 2010 | 6.25% |
Source: compiled from public summaries. For official notifications and exact circulars, consult the RBI website.
The repo rate is the rate at which the Reserve Bank of India (RBI) lends short-term funds to commercial banks against government securities. When banks need liquidity for a short period, they can borrow from the RBI at the repo rate. The repo rate is a primary monetary policy tool used to manage inflation and liquidity in the economy.
The RBI adjusts the repo rate to influence overall demand and inflation. A cut in the repo rate makes borrowing cheaper for banks, which tends to ease monetary conditions and support growth. A hike makes borrowing more expensive, which can help cool demand and bring down inflation. These decisions are announced by the RBI's Monetary Policy Committee (MPC) after scheduled meetings.
While repo operations inject liquidity into the banking system (RBI lends to banks), reverse repo operations are the opposite: banks park surplus funds with the RBI and earn interest at the reverse repo rate. The spread between repo and reverse repo rates helps manage short-term liquidity conditions.
Transmission is how quickly policy rate changes reach consumers. Transmission speed varies by bank, product and benchmark. Loans linked to external benchmarks (for example, a repo-linked rate) may adjust faster than those priced on internal benchmarks such as MCLR. Market competition, lenders' funding mix and regulatory factors also affect how quickly rates change for customers.
It varies. Banks that link lending rates to external benchmarks may pass changes faster; others using internal MCLR may take longer. Lending spreads, funding mix and competitive pressure also influence transmission speed.
Not always. If your loan is on a floating rate tied to a benchmark that moves with policy rates, your EMI or interest component can change once the bank reprices the loan. Check your loan agreement for the exact benchmark and repricing frequency.