Rates as of 29 October 2026. The last policy decision was 7 October 2026. The next Monetary Policy Committee meeting is 2 to 4 December 2026.
Rates change. Confirm the figure with the bank, post office or lender before you book a deposit or borrow.
Decision of 7 October 2026, from the meeting of 5 to 7 October 2026. The stance is calibrated tightening. Next meeting: 2 to 4 December 2026. Read the resolution.
Policy repo rate
- Percent
- 5.50%
- In force
- 7 October 2026
Standing deposit facility (SDF)
- Percent
- 5.25%
- In force
- 7 October 2026
Marginal standing facility (MSF)
- Percent
- 5.75%
- In force
- 7 October 2026
Bank rate
- Percent
- 5.75%
- In force
- 7 October 2026
Fixed reverse repo rate
- Percent
- 3.35%
- In force
- As published on the RBI homepage on 29 October 2026
Cash reserve ratio (CRR)
- Percent
- 3.00%
- In force
- As published on the RBI homepage on 29 October 2026
Statutory liquidity ratio (SLR)
- Percent
- 18.00%
- In force
- As published on the RBI homepage on 29 October 2026
| Rate | Percent | In force |
|---|---|---|
| Policy repo rate | 5.50% | 7 October 2026 |
| Standing deposit facility (SDF) | 5.25% | 7 October 2026 |
| Marginal standing facility (MSF) | 5.75% | 7 October 2026 |
| Bank rate | 5.75% | 7 October 2026 |
| Fixed reverse repo rate | 3.35% | As published on the RBI homepage on 29 October 2026 |
| Cash reserve ratio (CRR) | 3.00% | As published on the RBI homepage on 29 October 2026 |
| Statutory liquidity ratio (SLR) | 18.00% | As published on the RBI homepage on 29 October 2026 |
- Policy repo rate. Raised by 0.25 percentage points, from 5.25% to 5.50%, with immediate effect. Liquidity adjustment facility.
- Standing deposit facility (SDF). Set at 5.25% with immediate effect in the same notification as the repo rate.
- Marginal standing facility (MSF). Set at 5.75% with immediate effect in the same notification as the repo rate.
- Bank rate. The 7 October 2026 resolution set the bank rate at 5.75%, with the MSF rate. The RBI homepage still showed 5.75% on 29 October 2026.
- Fixed reverse repo rate. Shown on the RBI homepage with the other policy rates. This page does not state a last-change date, because that circular was not the source checked today.
- Cash reserve ratio (CRR). The homepage showed 3.00% on 29 October 2026. The ratio reached 3.00% of net demand and time liabilities from the fortnight beginning 29 November 2025, under the 6 June 2025 notification. From the fortnight beginning 16 October 2026, a bank must keep at least 99% of the required CRR every day. That daily floor does not change the 3.00% ratio.
- Statutory liquidity ratio (SLR). The homepage showed 18.00% on 29 October 2026. This page does not state a last-change date, because that circular was not the source checked today.
These are the policy rates the Reserve Bank of India publishes for the banking system. They are not a deposit rate and not a home-loan offer. Banks borrow, park and lend against them, and then set their own cards.
The policy repo rate is the rate at which RBI lends short-term money to banks against collateral, under the liquidity adjustment facility. It is the rate home-loan benchmarks follow. It is 5.50% from 7 October 2026.
The standing deposit facility, SDF, is the rate RBI pays banks that park overnight money with it, without taking collateral. It is 5.25%. It sits below the repo rate and is the floor of this corridor.
The marginal standing facility, MSF, is the rate banks pay when they borrow overnight from RBI beyond their normal repo borrowing. It is 5.75%. The bank rate is also 5.75%. The 7 October 2026 resolution moved the bank rate with the MSF rate. A penalty that still quotes the bank rate uses this number.
The fixed reverse repo rate on the RBI homepage is 3.35%. This page shows it because the homepage shows it beside the other rates. It does not give a last-change date, because that circular was not the page checked today.
Reserve ratios
The cash reserve ratio, CRR, is the share of deposits a bank must keep with RBI. The homepage showed 3.00% on 29 October 2026. That ratio has been in place since the fortnight beginning 29 November 2025, after a cut announced on 6 June 2025. From the fortnight beginning 16 October 2026, a bank must also keep at least 99% of the required CRR on every day of the fortnight. The earlier daily floor was 90%. The 99% rule changes how steadily the cash is held. It does not change the 3.00% ratio.
The statutory liquidity ratio, SLR, is the share of deposits a bank must hold in approved securities such as government bonds. The homepage showed 18.00% on 29 October 2026. This page does not state a last-change date for SLR.
The last decision, and the next one
The Monetary Policy Committee met from 5 to 7 October 2026. On 7 October 2026 it raised the repo rate by 0.25 percentage points, to 5.50%. The SDF rate was set at 5.25%. The MSF rate and the bank rate were set at 5.75%. The stance moved to calibrated tightening. Two members wanted the stance kept neutral. The resolution said rate cuts are off the table for now, and that the next step is a hike or a pause.
The next meeting is 2 to 4 December 2026. Until that meeting writes a new resolution, these are the policy rates. Minutes of the October meeting were due on 21 October 2026. The rates themselves come from the resolution and the liquidity notification, and they were still the figures on the RBI homepage on 29 October 2026.
What reaches your loan or your deposit
A repo change does not rewrite every FD card on the same afternoon. A floating home loan that is linked to the repo rate, or to a bank rate built from it, moves when that lender applies the new benchmark. The spread you were given usually stays until the bank reviews it. Read the home loan rates beside this card if you are comparing lenders.
A fixed deposit rate is a bank’s own card. It can follow the policy rate over time, and it can also move because the bank wants more, or less, retail money. The FD rates page is the retail card. It is not a formula applied to the repo rate.
If you are mid-way through a loan, ask the lender which benchmark your account uses, the spread, and the date the EMI will be recalculated. The EMI calculator will show the new payment once you type the rate in the letter. The repo rate glossary entry is the short definition. This page is the current card.
Questions
What is the RBI repo rate today?
The policy repo rate is 5.50%, from 7 October 2026. The Monetary Policy Committee raised it by 0.25 percentage points at its 5 to 7 October 2026 meeting. The next meeting is 2 to 4 December 2026.
How is the SDF different from the MSF?
The standing deposit facility, at 5.25%, is where banks park overnight money with RBI. The marginal standing facility, at 5.75%, is where they borrow overnight when they need more than the normal repo window. The repo rate, at 5.50%, sits between them.
Does a repo hike change my home loan EMI immediately?
A floating loan linked to the repo rate, or to a bank’s repo-linked rate, is due to move. The lender applies the change on its own reset cycle. A fixed-rate period does not move until that period ends. Check the sanction letter for the benchmark and the reset date.
Did CRR change in October 2026?
The CRR ratio on the RBI homepage was still 3.00% on 29 October 2026. What changed from the fortnight beginning 16 October 2026 is the daily floor: banks must keep at least 99% of the required CRR every day, up from 90%. The 3.00% ratio itself was not raised.
Where does the 18% SLR figure come from?
It is the statutory liquidity ratio printed on the RBI homepage on 29 October 2026. This page does not add a last-change date, because the circular that last moved SLR was not the source checked for this update. Confirm 18.00% on rbi.org.in if you are using it for anything beyond a reading of the policy card.