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Chronology of Bank Rate in India (History of Bank Rates)


History of Bank Rate in India / Historical Rates of Bank Rate in India


Date Bank Rate Remarks
2-Jan-1900 1.00  
5-Jul-1935 3.50  
28-Nov-1935 3.00  
15-Nov-1951 3.50  
16-May-1957 4.00  
3-Jan-1963 4.50  
26-Sep-1964 5.00  
17-Feb-1965 6.00  
2-Mar-1968 5.00  
9-Jan-1971 6.00  
31-May-1973 7.00  
23-Jul-1974 9.00  
12-Jul-1981 10.00  
4-Jul-1991 11.00  
9-Oct-1991 12.00  
16-Apr-1997 11.00  
26-Jun-1997 10.00  
22-Oct-1997 9.00  
17-Jan-1998 11.00  
19-Mar-1998 10.50  
3-Apr-1998 10.00  
29-Apr-1998 9.00  
2-Mar-1999 8.00  
2-Apr-2000 7.00  
22-Jul-2000 8.00  
17-Feb-2001 7.50  
2-Mar-2001 7.00  
23-Oct-2001 6.50  
30-Oct-2002 6.25 RBI circular dated 29/10/2002
29-Apr-2003 6.00 RBI circular dated 29/04/2003
13-Feb-2012 9.50 RBI circular dated 13/02/2012 (RBI considered this as only technical adjustment
17-April-2012 9.00 RBI circular dated 17/04/2012
29-January-2013 8.75 RBI circular dated 29/01/2013
19 - March 2013 8.50 RBI circular dated 19/03/2013
03 - May 2013 8.25 RBI circular dated 3/5/2013
15 - July 2013 10.25 RBI announced that in view of exchange rate pressure, the Bank Rate and MSF Rate will be recaliberated to be 300 basis point above the policy Repo Rate instead of 100 bps till this date.  Accordingly, there was jump of 200 basis point in Bank Rate.
20 - September 2013 9.50 RBI circular dated 20/09/2013
07 - October, 2013 9.00 RBI circular dated  07/10/2013
29 - October, 2013 8.75 RBI circular dated  29/10/2013
28 - January, 2014 9.00 RBI circular dated  28/1/2014
15-January-2015 8.75 RBI circular dated 15/01/2015
04-March-2015 8.50 RBI circular dated 04/3/2015
02-June-2015 8.25 RBI circular dated 02/6/2015

What is Bank rate?   Bank Rate is the rate at which central bank of the country  (in India it is RBI)  allows finance to commercial banks. Bank Rate is a tool, which central bank  uses for short-term purposes. Any upward revision in Bank Rate by central bank is an indication that banks should also increase deposit rates as well as Prime Lending Rate. This any revision in the Bank rate indicates could mean more or less interest on your deposits and also an increase or decrease in your EMI.

Section 49 of the Reserve Bank of India Act, 1934 requires the Reserve Bank to make public (from time to time) the standard rate at which it is prepared to buy or re-discount bills of exchange or other commercial paper eligible for purchase under that Act.  This is called Bank Rate





Click Here to Know the Current / Latest Rates of CRR, SLR, Bank Rate, Repo and Reverse Repo Rates As per RBI in India

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