New Delhi, 26 March (H.S.):
The Reserve Bank of India (RBI) has released the calendar of Monetary Policy Committee (MPC) review meetings for the upcoming financial year 2026‑27, even as the West Asia crisis continues to cloud global and domestic prospects. The central bank’s first three‑day, bi‑monthly MPC meeting will be held from April 6 to April 8.
The six‑member rate‑setting committee, chaired by RBI Governor Sanjay Malhotra, is scheduled to hold six such MPC meetings in FY 2026‑27. The notification has been issued under Section 45ZI of the Reserve Bank of India Act, 1934, which makes it mandatory for the RBI to publish the schedule of its policy meetings. The RBI has stated that these meetings are intended to review evolving macroeconomic conditions and take key decisions on policy rates and liquidity measures in a transparent and predictable manner.
The second MPC review will be held from June 3 to June 5, followed by the third meeting from August 3 to August 5, the fourth from October 5 to October 7, the fifth from December 2 to December 4, and the sixth from February 3 to February 5, 2027. The Committee typically votes on the policy proposal on the third day of each meet, after which the Governor announces the outcome, including any change in the repo rate.
The MPC comprises six members—three RBI officials, including the Governor, and three external members appointed by the central government. The committee is principally responsible for fixing the policy repo rate to keep inflation within the prescribed target while supporting growth. Financial markets closely watch MPC meetings, since the decisions on the repo rate and the RBI’s commentary on inflation and economic outlook directly influence bond yields, equity valuations, and the cost of credit for households and businesses.
At its last meeting held from February 4 to February 6, the MPC had unanimously decided to keep the policy repo rate unchanged at 5.25 per cent, signalling a pause in the current monetary‑policy cycle amid a mixed growth‑inflation outlook.
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Hindusthan Samachar / Jun Sarkar
