RBI Repo Rate Today
The current repo rate and RBI's other policy rates, every Monetary Policy Committee decision since 2016, and what a change does to a home loan EMI. Every figure is from RBI's own statements.
The RBI repo rate is 5.50%, set on 7 Oct 2026 when the Monetary Policy Committee raised it by 25 basis points from 5.25%. It was the first increase since Feb 2023. The next decision is due on Friday 4 December 2026, at the end of the MPC meeting on 2-4 December 2026.
The repo rate is the rate at which the Reserve Bank of India lends overnight to banks. Usually six times a year, its Monetary Policy Committee decides whether to raise it, cut it or hold it, and loan and deposit rates across the country follow.
RBI policy rates today
| Rate | Now | What it is |
|---|---|---|
| Policy repo rate | 5.50% | What banks pay to borrow overnight from RBI against government bonds. The rate the MPC sets. |
| Standing deposit facility (SDF) | 5.25% | What RBI pays banks that park spare money with it overnight. The floor of the corridor. |
| Marginal standing facility (MSF) | 5.75% | The emergency rate for banks that run short. The ceiling of the corridor. |
| Bank Rate | 5.75% | Moves with the MSF; used as a reference in some penalties and rules. |
| Fixed reverse repo rate | 3.35% | The old floor. RBI still lists it, but the SDF has been the floor since April 2022. |
| Cash reserve ratio (CRR) | 3.00% | Share of deposits banks must keep with RBI as cash, earning nothing. |
| Statutory liquidity ratio (SLR) | 18.00% | Share of deposits banks must hold in government bonds and similar assets. |
From the current-rates panel on rbi.org.in, read 2 Nov 2026. The latest MPC resolution, of 7 Oct 2026, is on RBI's site.
Repo rate since 2016
Since the MPC's first meeting in October 2016 it has cut the repo rate 13 times and raised it 9 times. The highest rate in that time was 6.50%. The lowest was 4.00%, from May 2020 to May 2022.
Every MPC decision since 2016
| Decision date | Decision | Change (bps) | Repo rate | Floor (SDF or reverse repo) | MSF | Source |
|---|---|---|---|---|---|---|
| 7 Oct 2026 | Raised 25 bps to 5.50% | +25 | 5.50% | 5.25% | 5.75% | RBI |
| 5 Aug 2026 | Held at 5.25% | 0 | 5.25% | 5.00% | 5.50% | RBI |
| 5 Jun 2026 | Held at 5.25% | 0 | 5.25% | 5.00% | 5.50% | RBI |
| 8 Apr 2026 | Held at 5.25% | 0 | 5.25% | 5.00% | 5.50% | RBI |
| 6 Feb 2026 | Held at 5.25% | 0 | 5.25% | 5.00% | 5.50% | RBI |
| 5 Dec 2025 | Cut 25 bps to 5.25% | -25 | 5.25% | 5.00% | 5.50% | RBI |
| 1 Oct 2025 | Held at 5.50% | 0 | 5.50% | 5.25% | 5.75% | RBI |
| 6 Aug 2025 | Held at 5.50% | 0 | 5.50% | 5.25% | 5.75% | RBI |
| 6 Jun 2025 | Cut 50 bps to 5.50% | -50 | 5.50% | 5.25% | 5.75% | RBI |
| 9 Apr 2025 | Cut 25 bps to 6.00% | -25 | 6.00% | 5.75% | 6.25% | RBI |
| 7 Feb 2025 | Cut 25 bps to 6.25% | -25 | 6.25% | 6.00% | 6.50% | RBI |
| 6 Dec 2024 | Held at 6.50% | 0 | 6.50% | 6.25% | 6.75% | RBI |
| 9 Oct 2024 | Held at 6.50% | 0 | 6.50% | 6.25% | 6.75% | RBI |
| 8 Aug 2024 | Held at 6.50% | 0 | 6.50% | 6.25% | 6.75% | RBI |
| 7 Jun 2024 | Held at 6.50% | 0 | 6.50% | 6.25% | 6.75% | RBI |
| 5 Apr 2024 | Held at 6.50% | 0 | 6.50% | 6.25% | 6.75% | RBI |
| 8 Feb 2024 | Held at 6.50% | 0 | 6.50% | 6.25% | 6.75% | RBI |
| 8 Dec 2023 | Held at 6.50% | 0 | 6.50% | 6.25% | 6.75% | RBI |
| 6 Oct 2023 | Held at 6.50% | 0 | 6.50% | 6.25% | 6.75% | RBI |
| 10 Aug 2023 | Held at 6.50% | 0 | 6.50% | 6.25% | 6.75% | RBI |
| 8 Jun 2023 | Held at 6.50% | 0 | 6.50% | 6.25% | 6.75% | RBI |
| 6 Apr 2023 | Held at 6.50% | 0 | 6.50% | 6.25% | 6.75% | RBI |
| 8 Feb 2023 | Raised 25 bps to 6.50% | +25 | 6.50% | 6.25% | 6.75% | RBI |
| 7 Dec 2022 | Raised 35 bps to 6.25% | +35 | 6.25% | 6.00% | 6.50% | RBI |
| 30 Sep 2022 | Raised 50 bps to 5.90% | +50 | 5.90% | 5.65% | 6.15% | RBI |
| 5 Aug 2022 | Raised 50 bps to 5.40% | +50 | 5.40% | 5.15% | 5.65% | RBI |
| 8 Jun 2022 | Raised 50 bps to 4.90% | +50 | 4.90% | 4.65% | 5.15% | RBI |
| 4 May 2022 | Raised 40 bps to 4.40% | +40 | 4.40% | 4.15% | 4.65% | RBI |
| 8 Apr 2022 | Held at 4.00% | 0 | 4.00% | 3.75% | 4.25% | RBI |
| 10 Feb 2022 | Held at 4.00% | 0 | 4.00% | 3.35% | 4.25% | RBI |
| 8 Dec 2021 | Held at 4.00% | 0 | 4.00% | 3.35% | 4.25% | RBI |
| 8 Oct 2021 | Held at 4.00% | 0 | 4.00% | 3.35% | 4.25% | RBI |
| 6 Aug 2021 | Held at 4.00% | 0 | 4.00% | 3.35% | 4.25% | RBI |
| 4 Jun 2021 | Held at 4.00% | 0 | 4.00% | 3.35% | 4.25% | RBI |
| 7 Apr 2021 | Held at 4.00% | 0 | 4.00% | 3.35% | 4.25% | RBI |
| 5 Feb 2021 | Held at 4.00% | 0 | 4.00% | 3.35% | 4.25% | RBI |
| 4 Dec 2020 | Held at 4.00% | 0 | 4.00% | 3.35% | 4.25% | RBI |
| 9 Oct 2020 | Held at 4.00% | 0 | 4.00% | 3.35% | 4.25% | RBI |
| 6 Aug 2020 | Held at 4.00% | 0 | 4.00% | 3.35% | 4.25% | RBI |
| 22 May 2020 | Cut 40 bps to 4.00% | -40 | 4.00% | 3.35% | 4.25% | RBI |
| 27 Mar 2020 | Cut 75 bps to 4.40% | -75 | 4.40% | 4.00% | 4.65% | RBI |
| 6 Feb 2020 | Held at 5.15% | 0 | 5.15% | 4.90% | 5.40% | RBI |
| 5 Dec 2019 | Held at 5.15% | 0 | 5.15% | 4.90% | 5.40% | RBI |
| 4 Oct 2019 | Cut 25 bps to 5.15% | -25 | 5.15% | 4.90% | 5.40% | RBI |
| 7 Aug 2019 | Cut 35 bps to 5.40% | -35 | 5.40% | 5.15% | 5.65% | RBI |
| 6 Jun 2019 | Cut 25 bps to 5.75% | -25 | 5.75% | 5.50% | 6.00% | RBI |
| 4 Apr 2019 | Cut 25 bps to 6.00% | -25 | 6.00% | 5.75% | 6.25% | RBI |
| 7 Feb 2019 | Cut 25 bps to 6.25% | -25 | 6.25% | 6.00% | 6.50% | RBI |
| 5 Dec 2018 | Held at 6.50% | 0 | 6.50% | 6.25% | 6.75% | RBI |
| 5 Oct 2018 | Held at 6.50% | 0 | 6.50% | 6.25% | 6.75% | RBI |
| 1 Aug 2018 | Raised 25 bps to 6.50% | +25 | 6.50% | 6.25% | 6.75% | RBI |
| 6 Jun 2018 | Raised 25 bps to 6.25% | +25 | 6.25% | 6.00% | 6.50% | RBI |
| 5 Apr 2018 | Held at 6.00% | 0 | 6.00% | 5.75% | 6.25% | RBI |
| 7 Feb 2018 | Held at 6.00% | 0 | 6.00% | 5.75% | 6.25% | RBI |
| 6 Dec 2017 | Held at 6.00% | 0 | 6.00% | 5.75% | 6.25% | RBI |
| 4 Oct 2017 | Held at 6.00% | 0 | 6.00% | 5.75% | 6.25% | RBI |
| 2 Aug 2017 | Cut 25 bps to 6.00% | -25 | 6.00% | 5.75% | 6.25% | RBI |
| 7 Jun 2017 | Held at 6.25% | 0 | 6.25% | 6.00% | 6.50% | RBI |
| 6 Apr 2017 | Held at 6.25% | 0 | 6.25% | 6.00% | 6.50% | RBI |
| 8 Feb 2017 | Held at 6.25% | 0 | 6.25% | 5.75% | 6.75% | RBI |
| 7 Dec 2016 | Held at 6.25% | 0 | 6.25% | 5.75% | 6.75% | RBI |
| 4 Oct 2016 | Cut 25 bps to 6.25% | -25 | 6.25% | 5.75% | 6.75% | RBI |
One row per policy decision, including the unscheduled ones. 100 basis points (bps) make one percentage point. The floor of the corridor was the reverse repo rate until April 2022 and the standing deposit facility rate after it. Each figure is read from the MPC's resolution on rbi.org.in, linked in the last column.
Rate-cut and rate-hike cycles
| Cycle | When | Repo rate | Total | Moves |
|---|---|---|---|---|
| Hikes | Oct 2026 | 5.25% to 5.50% | +25 bps | 1 |
| Cuts | Feb 2025 to Dec 2025 | 6.50% to 5.25% | -125 bps | 4 |
| Hikes | May 2022 to Feb 2023 | 4.00% to 6.50% | +250 bps | 6 |
| Cuts | Feb 2019 to May 2020 | 6.50% to 4.00% | -250 bps | 7 |
| Hikes | Jun 2018 to Aug 2018 | 6.00% to 6.50% | +50 bps | 2 |
| Cuts | Oct 2016 to Aug 2017 | 6.50% to 6.00% | -50 bps | 2 |
A cycle is a run of moves in one direction; meetings that held the rate don't end it.
What a repo rate change does to your home loan EMI
Most floating-rate home loans taken since October 2019 are linked to an external benchmark, usually the repo rate. Your rate is the benchmark plus a spread the bank fixes when you borrow. When the repo rate moves, the bank changes your rate at the next reset date in your loan agreement, and either the EMI or the remaining tenure changes.
| Loan (20 years) | EMI at 8.50% | EMI at 8.75% | Extra each month |
|---|---|---|---|
| ₹25,00,000 | ₹21,696 | ₹22,093 | ₹397 |
| ₹50,00,000 | ₹43,391 | ₹44,186 | ₹794 |
| ₹75,00,000 | ₹65,087 | ₹66,278 | ₹1,192 |
| ₹1,00,00,000 | ₹86,782 | ₹88,371 | ₹1,589 |
An example, not a quote: 8.50% stands in for your own loan rate. A 0.25-point rise adds about ₹794 a month to a ₹50 lakh, 20-year loan. A cut of the same size saves a little less than that. Fixed-rate loans and older MCLR-linked loans move differently.
Key takeaways
- Repo rate: 5.50% (since 7 Oct 2026).
- SDF 5.25%, MSF and Bank Rate 5.75%, CRR 3.00%, SLR 18.00%.
- Next policy decision: 4 Dec 2026.
- 13 cuts and 9 hikes since October 2016.
Frequently asked questions
What is the repo rate today?
The RBI repo rate is 5.50%, set on 7 Oct 2026 when the Monetary Policy Committee raised it by 25 basis points from 5.25%. It was the first increase since Feb 2023. The next decision is due on Friday 4 December 2026, at the end of the MPC meeting on 2-4 December 2026.
What is the repo rate?
The interest rate at which the Reserve Bank of India lends overnight to banks against government securities. It is the main rate the Monetary Policy Committee uses to steer borrowing costs and inflation.
What is the reverse repo rate now?
The fixed reverse repo rate is 3.35%, but since April 2022 the floor for overnight money is the standing deposit facility, now 5.25%.
Who decides the repo rate?
The Monetary Policy Committee: six members, three from RBI including the Governor and three appointed by the central government. It decides by majority, and the Governor has a casting vote in a tie.
When will the repo rate change next?
The next decision is due on Friday 4 December 2026. Nobody outside the committee knows the outcome in advance.
What was the lowest repo rate in India?
Since the MPC began in 2016, 4.00%, from 22 May 2020 until 4 May 2022.