The Reserve Bank of India held its benchmark policy repo at 6.5% for the seventh consecutive meeting in April 2024, as widely expected amid persistent price pressures. The latest move came after annual inflation stood at 5.09% in February 2024, almost unchanged from January, after hitting a four-month high of 5.69% in December 2023, staying within the RBI's 2-6% target range in the medium term. RBI Governor Shaktikanta Das reaffirmed its commitment to bring down inflation to 4%. He said that uncertainties would continue to weigh on the inflation outlook. Additionally, the central bank maintained the economic growth forecast for the fiscal year 2025 at 7%, with projections of 7.1% for Q1; 6.9% for Q2; and Q3 and Q4 at 7% each, while inflation was at 4.5%, with a projection of 4.9% for Q1; 3.8% for Q2; 4.6% for Q3, and 4.5% for Q4. The RBI also left the marginal standing facility (MSF) and bank rates unchanged at 6.75% while keeping the standing deposit facility (SDF) rate at 6.25%. source: Reserve Bank of India
The benchmark interest rate in India was last recorded at 6.50 percent. Interest Rate in India averaged 6.37 percent from 2000 until 2024, reaching an all time high of 14.50 percent in August of 2000 and a record low of 4.00 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 April of 2024.
The benchmark interest rate in India was last recorded at 6.50 percent. Interest Rate in India is expected to be 6.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the India Interest Rate is projected to trend around 5.50 percent in 2025 and 5.00 percent in 2026, according to our econometric models.