RBI MPC Meeting April 2026: RBI Governor Sanjay Malhotra. (file)
RBI MPC Meeting April 2026 Announcements: The Reserve Bank of India kept the policy repo rate unchanged at 5.25 per cent in its first bi-monthly Monetary Policy Statement for the financial year 2026–27 and the policy stance neutral. This comes following the conclusion of the three-day meeting of the Governor Sanjay Malhotra-led Monetary Policy Committee (MPC) that began on April 6.
The Governor stated, “After the detailed assessment of the evolving macroeconomic and financial developments and the outlook, the MPC voted unanimously to keep the policy repo rate unchanged under the liquidity facility at 5.25 per cent. Consequently, the SDR rate remains at 5 per cent and the MSF rate and the bank rate at 5.5 per cent”.
He further added, “Consequently, the Standing Deposit Facility (SDF) rate remains at 5 per cent and the Marginal Standing Facility (MSF) rate and the bank rate at 5.5 per cent,” he said.
Sanjay Malhotra also announced that GDP growth for this year is projected at 6.9 per cent, with Q1 at 6.8, Q2 at 6.7 per cent, Q3 at 7 per cent, and Q4 at 7.2 per cent.
The rate-setting panel, chaired by Governor, meets every two months to assess key economic indicators and decide the policy stance.
This policy review comes amid heightened global uncertainty, driven largely by escalating tensions in West Asia. The ongoing conflict involving the United States and Iran has disrupted critical energy supply routes, particularly the Strait of Hormuz, triggering a sharp spike in crude oil prices. Although a temporary two-week ceasefire has eased some immediate concerns, the broader economic impact continues to weigh on global and domestic markets. Rising oil prices have already begun to ripple through the Indian economy.
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