India - Monetary Policy Rate

India: Monetary Policy Rate

Mnemonic IRMP.IIND
Unit %, NSA
Adjustments Not Seasonally Adjusted
Data 24 Nov 2022 5.9
23 Nov 2022 5.9

Series Information

Source Reserve Bank of India
Release Monetary Policy
Frequency Business Daily
Start Date 8/30/2000
End Date 11/24/2022

India: Markets

Reference Last Previous Units Frequency
Stock Market Index 25 Nov 2022 62,293 62,272 Index, NSA Daily
Monetary Policy Rate 24 Nov 2022 5.9 5.9 %, NSA Daily
Money Market Rate 24 Nov 2022 3.35 3.35 %, NSA Daily
Average Long-term Government Bond 23 Nov 2022 6.88 6.88 % p.a., NSA Wednesday Weekly
Treasury Bills (over 31 days) 23 Nov 2022 6.75 6.74 % p.a., NSA Wednesday Weekly
Lending Rate 11 Nov 2022 6.15 6.15 %, NSA Friday Weekly

Release Information

Monetary policy refers to the policy of the central bank with regard to the use of monetary instruments under its control to achieve the goals specified in the Act.

The Monetary Policy Committee constituted by the Central Government under Section 45ZB determines the policy interest rate required to achieve the inflation target. The commitee is required to meet at least four times in a year.

The Reserve Bank’s Monetary Policy Department assists the MPC in formulating the monetary policy. Views of key stakeholders in the economy, and analytical work of the Reserve Bank contribute to the process for arriving at the decision on the policy repo rate.

The Financial Market Committee meets on a daily basis to review the liquidity conditions to ensure that the operating target of monetary policy is kept close to the policy repo rate.

The data is final when published.