India Interest Rate  2000-2016 | Data | Chart | Calendar | Forecast | News

The Reserve Bank of India left its benchmark repo rate unchanged at a five-year low of 6.5 percent during the meeting held on August 9th, as widely expected. While awaiting space for policy action, policymakers said the stance of monetary policy will remain accommodative and continue to emphasize the adequate provision of liquidity. The central bank also decided to keep the cash reserve at 4.0 percent, to provide liquidity as required but progressively lower the average ex ante liquidity deficit in the system from one percent of net demand and time liabilities (NDTL) to a position closer to neutrality. Interest Rate in India averaged 6.71 percent from 2000 until 2016, reaching an all time high of 14.50 percent in August of 2000 and a record low of 4.25 percent in April of 2009. Interest Rate in India is reported by the Reserve Bank of India.

India Interest Rate
Receive the next reported value for India Interest Rate in you Inbox



We will not not share your email with third parties and you can unsubscribe at any time.
Please Paste this Code in your Website

Actual Previous Highest Lowest Dates Unit Frequency
6.50 6.50 14.50 4.25 2000 - 2016 percent Daily
In India, interest rate decisions are taken by the Reserve Bank of India's Central Board of Directors. The official interest rate is the benchmark repurchase rate. In 2014, the primary objective of the RBI monetary policy became price stability, giving less importance to government's borrowing, the stability of the rupee exchange rate and the need to protect exports. In February 2015, the government and the central bank agreed to set a consumer inflation target of 4 percent, with a band of plus or minus 2 percentage points, from the financial year ending in March 2017. This page provides - India Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. India Interest Rate - actual data, historical chart and calendar of releases - was last updated on September of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-04-05 05:30 AM RBI Interest Rate Decision 6.50% 6.75% 6.5% 6.5%
2016-06-07 05:30 AM RBI Interest Rate Decision 6.50% 6.50% 6.50% 6.50%
2016-08-09 05:30 AM RBI Interest Rate Decision 6.50% 6.50% 6.50% 6.50%

India Keeps Policy Rate Unchanged at 6.5% in August


The Reserve Bank of India left its benchmark repo rate unchanged at a five-year low of 6.5 percent during the meeting held on August 9th, as widely expected. While awaiting space for policy action, policymakers said the stance of monetary policy will remain accommodative and continue to emphasize the adequate provision of liquidity.

The central bank also decided to keep the cash reserve at 4.0 percent, to provide liquidity as required but progressively lower the average ex ante liquidity deficit in the system from one percent of net demand and time liabilities (NDTL) to a position closer to neutrality.

Excerpts from the final review by Dr. Raghuram G. Rajan, Governor:

In India, the recent sharper-than-anticipated increase in food prices has pushed up the projected trajectory of inflation over the rest of the year. Moreover, prices of pulses and cereals are rising and services inflation remains somewhat sticky. There are early indications, however, that prices of vegetables are edging down. Going forward, the strong improvement in sowing on the back of the monsoon’s steady progress, along with supply management measures, augers well for the food inflation outlook. The prospects for inflation excluding food and fuel are more uncertain; if the current softness in crude prices proves to be transient and as the output gap continues to close, inflation excluding food and fuel may likely trend upwards and counterbalance the benefit of the expected easing of food inflation. In addition, the full implementation of the recommendations of the 7th central pay commission (CPC) on allowances will affect the magnitude of the direct effect of house rents on the CPI.

The momentum of growth is expected to be quickened by the normal monsoon raising agricultural growth and rural demand, as well as by the stimulus to consumption spending that can be expected from the disbursement of pay, pension and arrears following the implementation of the 7th CPC’s award. The passage of the Goods and Services Tax (GST) Bill augurs well for the growing political consensus for economic reforms. While timely implementation of GST will be challenging, there is no doubt that it should raise returns to investment across much of the economy, even while strengthening government finances over the medium-term. This should boost business sentiment and eventually investment. The current accommodative stance of monetary policy and comfortable liquidity conditions should also provide a congenial environment for the reinvigoration of aggregate demand conditions. However, successive downgrades of global growth projections by multilateral agencies and the continuing sluggishness in world trade points to further slackening of external demand going forward. 

Risks to the inflation target of 5 percent for March 2017 continue to be on the upside. Furthermore, while the direct statistical effect of house rent allowances under the 7th CPC’s award may be looked through, its impact on inflation expectations will have to be carefully monitored so as to pre-empt a generalisation of inflation pressures. In terms of immediate outcomes, much will depend on the benign effects of the monsoon on food prices.

RBI l Rida Husna | rida@tradingeconomics.com
8/9/2016 8:29:09 AM

India Money Last Previous Highest Lowest Unit
Interest Rate 6.50 6.50 14.50 4.25 percent [+]
Cash Reserve Ratio 4.00 4.00 10.50 4.00 percent [+]
Interbank Rate 6.52 6.56 12.97 3.10 percent [+]
Money Supply M1 27139.16 26872.19 27139.16 80.15 INR Billion [+]
Money Supply M2 27746.92 27479.95 27746.92 1127.49 INR Billion [+]
Money Supply M3 122289.14 121337.78 122289.14 123.52 INR Billion [+]
Foreign Exchange Reserves 369600.00 371280.00 383643.00 29048.00 USD Million [+]
Central Bank Balance Sheet 14925.29 14926.83 16109.39 1624.31 INR Billions [+]
Loan Growth 9.80 9.60 18.70 8.70 percent [+]




Last
Malawi 27.00 Aug/16
Argentina 26.75 Sep/16
Ghana 26.00 Sep/16
Gambia 23.00 Aug/16
Venezuela 21.54 Jul/16
Haiti 20.00 Aug/16
Iran 20.00 Dec/16
Belarus 18.00 Aug/16
Mozambique 17.25 Aug/16
Angola 16.00 Sep/16
Zambia 15.50 Aug/16
Afghanistan 15.00 Aug/16
Azerbaijan 15.00 Sep/16
Mongolia 15.00 Aug/16
Ukraine 15.00 Sep/16
Yemen 15.00 Aug/16
Brazil 14.25 Sep/16
Sudan 14.20 Apr/16
Nigeria 14.00 Sep/16
Uganda 14.00 Aug/16
Liberia 13.57 Jun/16
Kazakhstan 13.00 Aug/16
Djibouti 12.70 Dec/14
Guinea 12.50 Jun/16
Suriname 12.50 Dec/15
Seychelles 12.30 Jul/16
Tanzania 12.00 Feb/16
Egypt 11.75 Sep/16
Zimbabwe 11.40 Jun/16
Tajikistan 11.00 Aug/16
Kenya 10.00 Sep/16
Lebanon 10.00 Aug/16
Moldova 10.00 Aug/16
Myanmar 10.00 Aug/16
Russia 10.00 Sep/16
Sao Tome and Principe 10.00 Aug/16
Burundi 9.74 Apr/16
Sierra Leone 9.50 Aug/16
Uruguay 9.25 Aug/16
Mauritania 9.00 Aug/16
Uzbekistan 9.00 Aug/16
Madagascar 8.30 Aug/16
Ecuador 8.21 Aug/16
Colombia 7.75 Aug/16
Cape Verde 7.50 Jun/16
Turkey 7.50 Sep/16
Armenia 7.25 Aug/16
Maldives 7.00 Aug/16
Namibia 7.00 Aug/16
Nepal 7.00 Aug/16
South Africa 7.00 Sep/16
Sri Lanka 7.00 Aug/16
Swaziland 7.00 Sep/16
Lesotho 6.86 Mar/16
Bangladesh 6.75 Aug/16
Georgia 6.50 Sep/16
India 6.50 Aug/16
Rwanda 6.50 Aug/16
Vietnam 6.50 Aug/16
Papua New Guinea 6.25 Aug/16
Bhutan 6.00 Aug/16
Kyrgyzstan 6.00 Sep/16
Pakistan 5.75 Sep/16
Botswana 5.50 Aug/16
Brunei 5.50 Aug/16
Honduras 5.50 Sep/16
Paraguay 5.50 Sep/16
Iceland 5.25 Aug/16
Dominican Republic 5.00 Aug/16
Ethiopia 5.00 Aug/16
Guyana 5.00 Aug/16
Indonesia 5.00 Sep/16
Jamaica 5.00 Aug/16
Bosnia and Herzegovina 4.99 Jun/16
Trinidad and Tobago 4.75 Aug/16
Bahamas 4.50 Jul/16
Laos 4.50 Aug/16
Qatar 4.50 Aug/16
China 4.35 Aug/16
El Salvador 4.33 Apr/16
Mexico 4.25 Aug/16
Peru 4.25 Sep/16
Tunisia 4.25 Aug/16
Algeria 4.00 Jun/16
Iraq 4.00 Aug/16
Macedonia 4.00 Aug/16
Mauritius 4.00 Aug/16
Serbia 4.00 Sep/16
Jordan 3.75 Aug/16
Benin 3.50 Sep/16
Burkina Faso 3.50 Sep/16
Chile 3.50 Sep/16
Guinea Bissau 3.50 Sep/16
Ivory Coast 3.50 Sep/16
Mali 3.50 Sep/16
Niger 3.50 Sep/16
Senegal 3.50 Sep/16
Togo 3.50 Sep/16
Barbados 3.43 Aug/16
Guatemala 3.00 Aug/16
Libya 3.00 Aug/16
Malaysia 3.00 Sep/16
Philippines 3.00 Sep/16
Belize 2.50 Aug/16
Croatia 2.50 Jul/16
Cameroon 2.45 Aug/16
Central African Republic 2.45 Aug/16
Chad 2.45 Aug/16
Equatorial Guinea 2.45 Aug/16
Gabon 2.45 Aug/16
Republic of the Congo 2.45 Aug/16
Cuba 2.25 Jul/16
Kuwait 2.25 Aug/16
Morocco 2.25 Aug/16
Bolivia 2.01 Jul/16
Congo 2.00 Aug/16
New Zealand 2.00 Sep/16
Saudi Arabia 2.00 Aug/16
Costa Rica 1.75 Aug/16
Romania 1.75 Aug/16
Australia 1.50 Sep/16
Poland 1.50 Sep/16
Thailand 1.50 Sep/16
Cambodia 1.45 Jun/16
Taiwan 1.38 Aug/16
Albania 1.25 Aug/16
South Korea 1.25 Sep/16
United Arab Emirates 1.25 Aug/16
Comoros 1.16 May/16
Oman 1.00 Aug/16
Hungary 0.90 Sep/16
Bahrain 0.75 Sep/16
Hong Kong 0.75 Aug/16
Macau 0.75 Aug/16
Panama 0.52 May/16
Canada 0.50 Sep/16
Fiji 0.50 Aug/16
Norway 0.50 Sep/16
United States 0.50 Sep/16
Singapore 0.38 Aug/16
New Caledonia 0.25 Aug/16
United Kingdom 0.25 Sep/16
Israel 0.10 Sep/16
Czech Republic 0.05 Aug/16
Austria 0.00 Sep/16
Belgium 0.00 Sep/16
Bulgaria 0.00 Sep/16
Cyprus 0.00 Sep/16
Estonia 0.00 Sep/16
Euro Area 0.00 Sep/16
Finland 0.00 Sep/16
France 0.00 Sep/16
Germany 0.00 Sep/16
Greece 0.00 Sep/16
Ireland 0.00 Sep/16
Italy 0.00 Sep/16
Latvia 0.00 Sep/16
Lithuania 0.00 Sep/16
Luxembourg 0.00 Sep/16
Malta 0.00 Sep/16
Netherlands 0.00 Sep/16
Portugal 0.00 Sep/16
Slovakia 0.00 Sep/16
Slovenia 0.00 Sep/16
Spain 0.00 Sep/16
Japan -0.10 Sep/16
Sweden -0.50 Sep/16
Denmark -0.65 Aug/16
Switzerland -0.75 Sep/16