New Delhi: The Reserve Bank of India (RBI) has announced the schedule of Monetary Policy Committee (MPC) meetings for the financial year 2026–27, with the first policy review meeting set to take place from April 6 to April 8.
The central bank said the rate-setting panel will hold six bi-monthly meetings during the financial year as part of its regular monetary policy review process.
As per the schedule, the next meeting after April will be held from June 3 to June 5, followed by similar three-day meetings planned in August, October, December and February.
The MPC, chaired by the RBI Governor, is responsible for deciding the policy repo rate, which serves as the benchmark for lending rates in the banking system. The committee consists of six members, including three officials from the RBI and three external members nominated by the Central government.
The panel typically reviews domestic and global economic conditions, inflation trends and growth indicators before arriving at its decision. The policy announcement is usually made after the conclusion of deliberations on the final day of the meeting.
At its previous meeting held in February, the committee had decided to keep the repo rate unchanged at 5.25 percent, maintaining the existing policy stance in view of inflation and growth considerations.
India’s inflation targeting framework, which guides monetary policy decisions, was originally notified by the government in August 2016 for a five-year period. The framework was later extended in 2021 for another five years, which will conclude in March 2026.
A fresh review of the inflation targeting framework is expected before the end of the current financial cycle.
The RBI’s bi-monthly monetary policy reviews remain a key indicator for financial markets, banks and borrowers, as changes in policy rates often influence lending rates, deposit returns and overall liquidity conditions in the economy.
