Claim: On May 22, 2020, the savings deposit rate at the Reserve Bank of India, which, as the central bank of India, possesses a monopoly on increasing the monetary base, was 8.95%-9.40% which was higher than its base rate which was 3.25%-3.50%.
Evidence: Rates as of 22 May 2020 Savings deposit rate 3.25%–3.50% Base rate 8.95%–9.40%