The Reserve Bank of India held its benchmark repo rate at 4 percent during its October meeting, as widely expected. Policymakers said the decision is consistent with neutral monetary policy stance and is in line with achieving the inflation target of 4 percent +/-2 percent while supporting economic growth and mitigate the impact of COVID-19 on the economy. For 2020-21, policymakers expect inflation to average 6.8 percent for the second quarter of the year and a range of 5.4 - 4.5 percent for the second half. GDP growth for 2020-21 is expected to contract 9.5 percent, with risk tilted to the downside (-9.8 percent) in the second quarter of 2020. source: Reserve Bank of India

Interest Rate in India averaged 6.56 percent from 2000 until 2020, reaching an all time high of 14.50 percent in August of 2000 and a record low of 4 percent in May of 2020. This page provides - India Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. India Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.

Interest Rate in India is expected to be 4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in India to stand at 3.50 in 12 months time. In the long-term, the India Interest Rate is projected to trend around 3.50 percent in 2021 and 3.75 percent in 2022, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
India Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.00 4.00 14.50 4.00 2000 - 2020 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-03-27 05:10 AM 4.4% 5.15% 4.5%
2020-05-22 04:30 AM 4% 4.4%
2020-08-06 06:30 AM 4% 4% 3.75% 3.75%
2020-10-09 04:50 AM 4% 4% 4% 4%
2020-12-04 06:15 AM 4% 4%
2021-02-05 06:15 AM


News Stream
India Leaves Rates Steady as Expected
The Reserve Bank of India held its benchmark repo rate at 4 percent during its October meeting, as widely expected. Policymakers said the decision is consistent with neutral monetary policy stance and is in line with achieving the inflation target of 4 percent +/-2 percent while supporting economic growth and mitigate the impact of COVID-19 on the economy. For 2020-21, policymakers expect inflation to average 6.8 percent for the second quarter of the year and a range of 5.4 - 4.5 percent for the second half. GDP growth for 2020-21 is expected to contract 9.5 percent, with risk tilted to the downside (-9.8 percent) in the second quarter of 2020.
2020-10-09
RBI Holds Rates, Maintains Accommodative Stance
The Reserve Bank of India kept its benchmark repo rate at 4 percent during its August meeting, surprising markets that had forecast a 25 bps rate cut, aiming to ensure inflation remains within target going forward following a recent climb in prices due to the coronavirus pandemic. Headline inflation rate has been above the central bank's 4 percent target since the beginning of the year and it is expected to ease only in the second half. Policymakers also pledged to continue to keep its accommodative policy stance "as long as necessary to revive growth". The central bank also said it would allow restructuring of corporate loans by banks, in order to ease debt strains on companies and lenders.
2020-08-06
India Unexpectedly Slashes Repo Rate to 4%
The Reserve Bank of India unexpectedly lowered its benchmark repurchase rate by 40 basis points to 4 percent in an emergency move on May 22nd, amid an ongoing nationwide lockdown to prevent further spreading of the coronavirus. The reverse repo rate was also lowered by 40 basis points to 3.35 percent and the marginal standing facility rate to 4.25 percent. The committee also decided to continue with the accommodative stance of monetary policy aiming to achieve the medium-term inflation target of 4 percent +/- 2 percent, and mitigate the impact of COVID-19 on the economy, while supporting growth.
2020-05-22
RBI Announces Special Liquidity Facility
The Reserve Bank of India (RBI) launched a special liquidity facility for mutual funds (SLF-MF) of 500 billion rupees (USD 6.56 billion) to ease pressure due to the coronavirus pandemic. The bank will conduct repo operations for 90 days' tenor the fixed repo rate. The scheme is available from April 27, 2020 till May 11, 2020 or up to utilization of the allocated amount, whichever is earlier. The Reserve Bank will review the timeline and amount, depending upon market conditions. Exposures under this facility will not be reckoned under the large exposures framework and stand to be classified as held to maturity, even in excess of the permissible 25 percent of total investments. Policymakers had already cut its benchmark repurchase rate by 75bps to 4.40 percent on March 27th.
2020-04-27

India Interest Rate
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.