RBI Repo Rate Today
The Reserve Bank of India (RBI) repo rate is the rate at which the RBI lends overnight funds to commercial banks against government securities. It is set by the six-member Monetary Policy Committee (MPC) at six bi-monthly meetings per year.
Upcoming Policy Meetings 2026
| Meeting Date | Type |
|---|---|
| 5–7 Feb 2026 | MPC review |
| 6–8 Apr 2026 | MPC review |
| 3–5 Jun 2026 | MPC review |
| 5–7 Aug 2026 | MPC review |
| 28–30 Sep 2026 | MPC review |
| 3–5 Dec 2026 | MPC review |
Markets price in rate decisions weeks ahead via overnight index swaps (OIS). Watch the next RBI MPC meeting for the next move.
Recent Rate History
| Date | Rate | Move |
|---|---|---|
| Feb 2025 | 6.25% | −25 bps |
| Apr 2023 | 6.50% | hold (current cycle peak) |
| Feb 2023 | 6.50% | +25 bps |
| Dec 2022 | 6.25% | +35 bps |
| May 2022 | 4.40% | cycle start |
What the repo rate affects: Home loan rates (most Indian home loans are linked to the RBI repo via external benchmark lending rate, EBLR), fixed-deposit rates, the rupee, and India's bond yields. Tracker mortgages reset within 3 months of an RBI move.
Other RBI rates to know: The reverse repo rate (now replaced by the Standing Deposit Facility, SDF) sets the floor of the corridor. The Marginal Standing Facility (MSF) rate sets the ceiling, typically 25bp above repo.
MPC structure: Three RBI members (Governor, Deputy Governor in charge of monetary policy, and an Executive Director) plus three external experts appointed by the central government. The Governor has the casting vote in case of a tie.
FAQ
What is the current RBI repo rate?
See the headline figure at the top of this page. The MPC announces decisions at 10:00 AM IST on the second day of each meeting.
How often does the RBI MPC meet?
Six times per year, bi-monthly.
How does the RBI repo rate affect my home loan?
Most Indian home loans are linked to the RBI repo via the External Benchmark Lending Rate (EBLR). A repo cut typically reduces your EMI within 1–3 months.
Note: Rate figures on this page are updated quarterly. For the absolute latest decision, consult the Reserve Bank of India's official site.