Mumbai: The Reserve Bank of India (RBI) announced its first bi-monthly Monetary Policy Statement for the financial year 2026-27 on April 8, 2026. RBI Governor Sanjay Malhotra revealed the decisions of the six-member Monetary Policy Committee (MPC) at 10:00 AM.
The MPC, which began its deliberations on Monday, April 6, 2026, under the leadership of Governor Sanjay Malhotra, unanimously decided to keep the benchmark policy repo rate unchanged at 5.25 per cent. The policy stance was retained as ‘neutral’. Consequently, the Standing Deposit Facility (SDF) rate remains at 5 per cent, while the Marginal Standing Facility (MSF) rate and the Bank Rate stay at 5.5 per cent.
This decision comes against the backdrop of the ongoing crisis in West Asia, which has raised concerns over potential spikes in inflation due to rising energy and input costs. Experts had widely anticipated that the RBI would maintain the status quo on the repo rate in view of these uncertainties.
With global headwinds and geopolitical tensions influencing economic sentiment, RBI maintains policy continuity. A stable rate environment, resilient growth projections, and sound financial systems remain at the core of RBI’s approach.#RBI #RBIMonetaryPolicy #RepoRate pic.twitter.com/aAfwXbCu2B
— ReserveBankOfIndia (@RBI) April 8, 2026
The MPC also projected GDP growth for FY 2026-27 at 6.9 per cent, lower than the previous year’s 7.6 per cent. Quarterly projections indicate growth of 6.8 per cent in Q1, 6.7 per cent in Q2, 7 per cent in Q3, and 7.2 per cent in Q4. Headline CPI inflation for the year is estimated at 4.6 per cent.
The announcement follows a period of heightened global and regional economic challenges, with the central bank adopting a cautious “wait and watch” approach while monitoring the evolving impact of the Middle East situation on India’s growth and inflation outlook.
The RBI Governor is expected to address the media later in the day to provide further details on the policy and economic projections.
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