RBI MPC Meeting: Schedule for FY 2026-27 Monetary Policy Meetings

The Reserve Bank of India (RBI) kept the policy repo rate unchanged at 5.25%, maintaining a neutral monetary policy stance after the conclusion of its latest three-day Monetary Policy Committee (MPC) meeting in June 2026. The meeting was chaired by RBI Governor Sanjay Malhotra.

Key Takeaways from RBI MPC Meeting June 2026

Invest in Indian Markets and Unlock Future Potential With 5paisa!

Open Account Now

Economic Growth Outlook Upgraded

The policy review comes amid rising global uncertainties, particularly due to the ongoing conflict in West Asia, elevated crude oil prices, and supply disruptions. Despite these challenges, RBI Governor Sanjay Malhotra noted that domestic economic activity remains resilient, supported by strong demand, healthy bank balance sheets, sustained credit growth, and infrastructure spending.

The RBI continues to project GDP growth at 6.9%, while highlighting risks from geopolitical tensions, higher energy costs, and uncertainty around the southwest monsoon and El Niño conditions.

Monetary Policy Approach

The RBI has kept the repo rate unchanged at 5.25%, continuing its pause after cumulative rate cuts of 125 basis points since February.

The MPC unanimously voted to retain the repo rate and maintained a neutral stance, signalling that future policy decisions will remain data-dependent.

While CPI inflation remains below the target, the RBI cautioned that inflation could move closer to the upper tolerance band in the coming quarters due to rising energy prices, supply disruptions, and weather-related risks.

The RBI reiterated its commitment to maintaining inflation within the 2–6% target band, with 4% as the CPI target.

Implications for Markets

The decision to hold rates steady is expected to provide stability to financial markets and support growth amid a challenging global environment.

Stable interest rates should continue to support borrowing, investment, and credit growth. However, rising crude oil prices, geopolitical tensions in West Asia, currency volatility, and weather-related inflation risks could create market uncertainty in the coming months.

Here's a summary comparison of the last RBI MPC Meetings:

RBI MPC Meeting Schedule for FY 2026-27

The following table outlines the upcoming schedule for the RBI Monetary Policy Meetings for the financial year 2026-27. 

Implications of the Latest Rate Cut

With the repo rate maintained at 5.25%, borrowers are likely to benefit from stable lending rates as banks continue to transmit the cumulative rate cuts implemented since February 2025. The pause is expected to support businesses and consumers through predictable borrowing costs and adequate liquidity.

However, the RBI highlighted risks from elevated crude oil prices, geopolitical tensions, supply disruptions, and uncertain monsoon conditions. With the MPC retaining a neutral stance, future rate moves will remain dependent on incoming growth and inflation data.

Stay tuned for updates on RBI’s liquidity measures and future MPC meetings in FY 2026-27.