The Reserve Bank of India (RBI) has released the calendar for its Monetary Policy Committee (MPC) meetings during the fiscal year 2025-26. The announcement gives details of six bi-monthly meetings that will be pivotal in deciding India’s monetary policy framework, including main interest rates and liquidity operations. The MPC, headed by RBI Governor Sanjay Malhotra, will meet on the following dates:
- April 7, 8, and 9, 2025
- June 4, 5, and 6, 2025
- August 5, 6, and 7, 2025
- September 29, 30, 2025
- October 1, 2025
- December 3, 4, and 5, 2025
- February 4, 5, and 6, 2026.
The agendas of these conferences will be carefully monitored by market participants for insights about interest rate movements and economic growth opportunities. The key interest of the committee will still be to balance inflation control with economic growth. During February’s MPC meeting under Governor Sanjay Malhotra—the repo rate was lowered by 25 basis points to 6.25%, the first rate reduction in nearly five years. Despite this decline, the MPC adopted a neutral stance to provide stability in facing inflationary pressures.
For FY26, the RBI has estimated Consumer Price Index (CPI) inflation at 4.2% and GDP growth at 6.7%, indicating expectations of consistent economic performance coupled with tempered inflation rates. The policy decisions taken in these meetings will not only shape monetary policy but also determine lending rates in different sectors of the economy. Investors and financial institutions are especially interested in knowing how these policy decisions will shape market dynamics.
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The MPC comprises three RBI members and three external members who are government-appointed. The heterogeneous composition of the MPC guarantees a variety of opinions during deliberations on monetary policy. The external members are leading economists who bring useful inputs into the deliberations of the committee.
As the MPC gears up for its inaugural meeting in April, stakeholders from various sectors are looking forward to understanding how the committee tackles current economic issues while stimulating growth. The results of such meetings will have a major bearing on market sentiment and investor trust in government securities.
Overall, the structured schedule announced for FY26 reflects the RBI’s commitment to transparent monetary policy management. By providing clear timelines for its meetings, the RBI aims to enhance communication with stakeholders while ensuring that its policies remain responsive to changing economic conditions. This announcement has been widely reported across major platforms and is not exclusive.
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