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Good News For Those Who Already Taken Home Load

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 If you take home loan, you must listen this audio :You must have heard the terms like repo rate, reverse repo rate and CRR during RBI credit policy. But do you know the meaning of these words? Today we are telling you its meaning and meaning. Know these words related to the Economic Review Policies of the Reserve Bank of India.


Repo rate
Repo rate is the rate at which RBI lends to banks. Banks give loans to customers with this loan. The low repo rate means that many types of loans from the bank will become cheap. Such as home loan, vehicle loan, etc.

Reverse repo rate
As its name suggests, it is the reverse of the repo rate. This is the rate at which banks get interest on money deposited in RBI on their behalf. The reverse repo rate is used to control the liquidity of cash in the markets. Whenever there is too much cash in the market, RBI increases the reverse repo rate, so that the bank deposits its money with it to earn more interest.

CRR
Under the banking regulations applicable in the country, each bank has to keep a certain portion of its total cash with the Reserve Bank. This is called the Cash Reserve Ratio (CRR) or Cash Reserve Ratio.



The rate at which banks keep their money with the government is called SLR. It is used to control liquidity of cash. Commercial banks are required to deposit a special amount which is used to complete an emergency transaction. When the RBI wants to reduce the liquidity of cash without changing the interest rates, it increases the CRR, leaving less money to lend to the banks.

RBI Repo Rate Cut History 2020 -2005

The change in repo rate in India since October 2005 can be summed up as follows:

Effective Date Repo Rate %Change
06 Aug 2020 4.00% 0.00%
22 May 2020 4.00% 0.40%
27 March 2020 4.40% 0.75%
6 February 2020 5.15% 0.25%
07 August, 2019 5.40% 0.35%
06 June, 2019 5.75% 0.25%
04 April, 2019 6.00% 0.25%
07 February, 2019 6.25% 0.25%
01 August, 2018 6.50% 0.25%
06 June, 2018 6.25% 0.25%
02 August, 2017 6.00% 0.25%
04 October, 2016 6.25% 0.25%
05 April, 2016 6.50% 0.25%
29 September, 2015 6.75% 0.50%
02 June, 2015 7.25% 0.25%
04 March, 2015 7.50% 0.25%
15 January, 2015 7.75% 0.25%
28 January, 2014 8.00% -0.25%
29 October, 2013 7.75% -0.25%
20 September, 2013 7.50% -0.25%
03 May, 2013 7.25% -0.50%
17 March, 2011 6.75% -0.25%
25 January, 2011 6.50% -0.25%
02 November, 2010 6.25% -0.25%
16 September, 2010 6.00% -0.25%
27 July, 2010 5.75% -0.25%
02 July, 2010 5.50% -0.25%
20 April, 2010 5.25% -0.25%
19 March, 2010 5.00% -0.25%
21 April, 2009 4.75% 0.25%
05 March, 2009 5.00% 0.50%
05 January, 2009 5.50% 1.00%
08 December, 2008 6.50% 1.00%
03 November, 2008 7.50% 0.50%
20 October, 2008 8.00% 1.00%
30 July, 2008 9.00% -0.50%
25 June, 2008 8.50% -0.50%
12 June, 2008 8.00% -0.25%
30 March, 2007 7.75% -0.25%
31 January, 2007 7.50% -0.25%
30 October, 2006 7.25% -0.25%
25 July, 2006 7.00% -0.50%
24 January, 2006 6.50% -0.25%
26 October, 2005 6.25% 00.00


The RBI first mentioned MSF in the Annual Monetary Policy Review in the financial year 2011-12 and this concept came into force on 9 May 2011. In this, all schedule commercial banks can take loans up to 1 percent of their total deposits for one night. Banks get this facility on every working day except Saturday.

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