RBI Repo Rate 2023 Hike, History, Graph & Chart

(Last Updated On: February 5, 2023)

The Union Budget will be placed before the parliament by our Finance Minister, Shrimati Nirmala Sitharaman. The event will begin with a speech at 11 in the Rashtrapati Bhavan on 1st Feb 2023. The people are looking forward to the forthcoming budget and have high hopes as well. There will be many big announcements depending on the budget planned for the nation. Read and know now about the RBI Repo Rate Hike; history, Graph & Chart and other details are provided in this article. Read and know now.

RBI Repo Rate Hike 2023

Table Of Contents

As per the news RBI, so going to hike the Repo rate. The bank is going to hike up the price by around 25 bps once the 2023-24 budget is announced. The repo rate by the RBI impacts the citizens in lot many ways. We have discussed the same below.

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The RBI, as you are aware, is responsible for maintaining the financial stability of the nation. The repo rate is also known as the short-term lending rate, which the bank borrows from RBI in case they are short of money is increasing. This will thus impact the interest rate of savings, mortgages and loans.

RBI Repo Rate Hike

RBI Repo Rate History

There has been a drastic change in the repo rate of the Reserve Bank of India in the past years. We have provided the data in a tabulated form. Those who are unaware shall keep reading in order to learn about it more.

Effective DateRepo Rate%Change
7 Dec 20226.25%0.35%
30 Sep 20225.90%0.5%
5 Aug 20225.40%0.5%
8 June 20224.90%0.5%
May 20224.40%0.4%
09 Oct 20204.00%0.00%
06 Aug 20204.00%0.00%
22 May 20204.00%0.40%
27 Mar 20204.40%0.75%
6 Feb 20205.15%0.25%
07 Aug 20195.40%0.35%
06 Jun 20195.75%0.25%
04 Apr 20196.00%0.25%
07 Feb 20196.25%0.25%
01 Aug 20186.50%0.25%
06 Jun 20186.25%0.25%
02 Aug 20176.00%0.25%
04 Oct 20166.25%0.25%
05 Apr 20166.50%0.25%
29 Sep 20156.75%0.50%
02 Jun20157.25%0.25%
04 Mar20157.50%0.25%
15 Jan 20157.75%0.25%
28 Jan 20148.00%-0.25%
29 Oct 20137.75%-0.25%
20 Sep 20137.50%-0.25%
03 May 20137.25%-0.50%
17 Mar 20116.75%-0.25%
25 Jan 20116.50%-0.25%
02 Nov 20106.25%-0.25%
16 Sep 20106.00%-0.25%
27 Jul 20105.75%-0.25%
02 Jul 20105.50%-0.25%
20 Apr 20105.25%-0.25%
19 Mar 20105.00%-0.25%
21 Apr 20094.75%0.25%
05 Mar 20095.00%0.50%
05 Jan 20095.50%1.00%
08 Dec 20086.50%1.00%
03 Nov 20087.50%0.50%
20 Oct 20088.00%1.00%
30 Jul 20089.00%-0.50%
25 Jun 20088.50%-0.50%
12 Jun 20088.00%-0.25%
30 Mar 20077.75%-0.25%
31 Jan 20077.50%-0.25%
30 Oct 20067.25%-0.25%
25 Jul 20067.00%-0.50%
24 Jan 20066.50%-0.25%
26 Oct 20056.25%00.00

Generally, if the Central bank of India wants to put more cash in circulation, then the Reserve Bank of India will lower the repo rate. With the increase per the data, the case would be the opposite.

RBI Repo Rate Graph

The graph below will help you better understand the increase in the repo rate in the last ten years.

RBI india-interest-rate

We have gathered the information to help you out. If you have any queries, then you can ask in the comment section.

RBI Repo Rate Chart

The chart below shows the data for one year. We can see the increase, which is quite consistent monthly. The RBI is called the Banker’s bank as it facilitates financial help to the banks.

india-interest-rate Chart 2023

This overall increased the inflation in the nation. In Dec, we can see the Repo rate was hiked by seven by the MPC. However, the reserve repo rate remains as it is, 3.35%.

RBI Repo Rate Hike Impact

It is to be noted that the Reserve Bank of India has increased the Repo rate four times in the current financial year.

  • It is going to affect other aspects such as EMIs, Fixed Deposits, Savings, Consumer spending, etc.
  • It is going to impact the overall economic growth as the consumer will switch to buying goods and services more irregularly, which will affect the demand.
  • As the demand falls, the growth will be impacted as well.
  • This will have a negative impact on our economy.
  • The commoner will have to tackle their finance cautiously in order to balance their expenses and income.

Apart from the above-listed factors, RBI is responsible for a lot may tasks. Its decision impact the life of a commoner in more than one way.

The budget of India for the financial year 2023-24 is going to be presented shortly. The mass, especially the youth, should learn about it and know the economic situation of the country and policies that have been developed for the improvement of the same.

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