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Latest Important Policy Rates in Indian Banking - 2016


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by

Rajesh Goyal   

 

 

Bank Rate* 

 6.25% (w.e.f. 02/08/2017) 

Decreased from 6.75% which was continuing since 04/10/2016 
Cash Reserve Ratio (CRR)  4.00% (wef   09/02/2013) -announced on 29/01/2013  Decreased from 4.25%which was continuing since 30/10/2012 

Statutory Liquidity Ratio (SLR) 

 20.00%(w.e.f. 07/06/2017) (announced on 07/06/2017)  

Decreased from 20.75% which was continuing since 04/10/2016 

 

[* Remember Bank Rate is not the same thing as Deposit Rates offered by banks for fixed deposits and recurring deposits.    If you are a non banker and have landed on this page while looking at Deposit Rates, please click here to go to correct page i.e.   Best Deposit Rates offered by banks for fixed deposits]

 

 

 

 Update on 02nd August 2017 : RBI changes key rates .   New policy rates are :  Repo rate under the liquidity adjustment facility (LAF) to be 6.00%; the Reverse repo rate to be 5.75%, and the marginal standing facility (MSF) rate to be 6.25% and the Bank Rate at 6.25%. CRR continues to be at 4% as per RBI announcement on Third Bi-monthly Monetary Policy Statement for 2017-18 02nd August,2017

 

 

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Repo Rate under LAF

 

 6.00%

(w.e.f. 02/08/2017)

 

Decreased  from 6.25% which was continuing since 04/10/2016 

 
Reverse Repo Rate under LAF ** 5.75%

(w.e.f. 04/10/2016)

 

 Decreased  from 6.00% which was continuing since 05/04/2016 
Marginal Standing Facility (MSF) *** 6.25%  (w.e.f. 02/08/2017) Decreased  from 6.75% which was continuing since 04/10/2016 

 

 

**Reverse Report rate was an independent rate till 03/05/2011.  However, in the monetary policy announced on 03/05/2011, RBI has decided that now onwards the Reverse Repo Rate will not be announced separately, but will be linked to Repo rate and it will always be 100 bps below the Repo rate (till RBI decides to delink the same)

 

 

** The concept of Marginal Standing Facility was announced by RBI wef 03/05/2011 (However implemented wef 09/05/2011).  At that time it was decided that Marginal Standing Facility i.e. MSF rate will be linked to Repo rate and will be 100 bps above the Repo Rate (till RBI decides to change the same).   WEF  15/07/2013, RBI has announced that from now onwards the  MSF Rate will be 300 basis points above the Repo Rate.   Once again MSF rates were revised wef 20/09/2013 to 9.50%, which is 200 bps above the Repo Rate,    

 

 Wants to Know More About MSF  - Click Here :  What is Marginal Standing Facility or What is MSF?

 

 

 

 

Saving Deposits - For residents

 RBI has amended the rate of interest on SF accounts in exercise of the powers conferred by Section 35A of the Banking Regulation Act, 1949

 Deregulated by RBI wef 25/10/2011

It remained regulated by RBI till 24th October, 2011.

(a) It was 4% between 3/5/2011 to 24/10/2011;            

(b) It was 3.50% between 1/3/2003 to 2/5/2011)

 

 

 

  (Click Here to see the latest guidelines for SF accounts and Highest Rate of Interest on Saving Fund Accounts )

 

 

Saving Deposits under NRO and NRE categories 4% wef (03/05/2011) Increased from 3.50% which was continuing since 1st March, 2012

 

 

 

Wants to Know More About the following:

 

WHAT IS SLR?  WHAT IS CRR? WHAT IS BANK RATE? WHAT IS REPO AND REVERSE REPO

 

Chronology of Marginal Standing Facility / History of Marginal Standing Facility

Chronology of Bank Rate in India  / History of Bank Rate

Chronology of SLR Rates in India / History of Statutory Liquidity Ratio Rates in India

Chronology of CRR Rates in India / History of Cash Reserve Rates in India

Chronology of Repo Rates / History of Repo Rates in India

Chronology of Reverse Repo Rates in India / History of Reverse Repo Rates in India

 

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