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RBI repo rate - Indian central bank’s interest rate

Charts - historic RBI interest rates

Graph Indian interest rate RBI - interest rates last year

Graph Indian interest rate RBI - long-term graph

The current Indian interest rate RBI (base rate) is 6.500 %

RBI - Reserve Bank of India

The Reserve Bank of India (RBI) is the Indian central bank. The RBI’s most important goal is to maintain monetary stability - moderate and stable inflation - in India. For an overview of current inflation in India, click here or here for current inflation by country. The RBI uses monetary policy to maintain price stability and an adequate flow of credit. Rates which the Indian central bank uses for this are the bank rate, repo rate, reverse repo rate and the cash reserve ratio. Reducing inflation has been one of the most important goals for some time.

Other important tasks of the Reserve Bank of India are:
  • to maintain the population’s confidence in the system, to safeguard the interests of those who have entrusted their money and to supply cost-effective banking systems to the population;
  • to manage foreign currency controls: facilitating exports, imports and international payment traffic and developing and maintaining the trade in foreign currencies in India;
  • issuing money (the rupee) and adequately ensuring a high quality money supply;
  • providing loans to commercial banks in order to maintain or grow the Gross National Product (GNP);
  • acting as the government’s banker;
  • acting as the banks’ banker.

RBI Repo rate or key short term lending rate

When reference is made to the Indian interest rate this often refers to the repo rate, also called the key short term lending rate. If banks are short of funds they can borrow rupees from the Reserve Bank of India (RBI) at the repo rate, the interest rate with a 1 day maturity. If the central bank of India wants to put more money into circulation, then the RBI will lower the repo rate. The reverse repo rate is the interest rate that banks receive if they deposit money with the central bank. This reverse repo rate is always lower than the repo rate. Increases or decreases in the repo and reverse repo rate have an effect on the interest rate on banking products such as loans, mortgages and savings.

This page shows the current and historic values of Indian central bank's Repo rate.

For a summary of the current interest rates of a large number of central banks please click here.

Tables - current and historic Indian central bank interest rates

RBI latest interest rate changes

 change date percentage
 february 08 2023 6.500 %
 december 07 2022 6.250 %
 september 30 2022 5.900 %
 august 05 2022 5.400 %
 june 08 2022 4.900 %
 may 04 2022 4.400 %
 may 22 2020 4.000 %
 march 27 2020 4.400 %
 october 04 2019 5.150 %
 august 07 2019 5.400 %

Summary of other central banks’ interest rates

 central bank interest rate region percentage date
 FED interest rate United States 4.750 % 02-01-2023
 RBA interest rate Australia 3.600 % 03-07-2023
 BACEN interest rate Brazil 13.750 % 08-04-2022
 BoE interest rate Great Britain 4.000 % 02-02-2023
 BOC interest rate Canada 4.500 % 01-25-2023
 PBC interest rate China 3.650 % 08-22-2022
 ECB interest rate Europe 3.500 % 03-16-2023
 BoJ interest rate Japan -0.100 % 02-01-2016
 CBR interest rate Russia 7.500 % 09-16-2022
 SARB interest rate South Africa 7.250 % 01-26-2023

In order to be able to show the data on this page, we make use of a large number of sources of information that we believe to be reliable. For more information and our disclaimer, click here.

American interest rate (Fed)4.75 %02-01-2023
Australian interest rate (RBA)3.60 %03-07-2023
British interest rate (BoE)4.00 %02-02-2023
Canadian interest rate (BOC)4.50 %01-25-2023
European interest rate (ECB)3.50 %03-16-2023
Japanese interest rate (BoJ)-0.10 %02-01-2016
All central banks interest rates, click here
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