RBI announces MPC schedule for FY27; first policy decision on April 8
The RBI has announced the Monetary Policy Committee meeting schedule for FY27, with six meetings planned and the first rate decision set for April 6–8. A review of the inflation target framework is also due by March 2026
Mumbai: The Reserve Bank of India (RBI) on Monday announced the calendar for the bi-monthly Monetary Policy Committee (MPC) meetings for the financial year 2026-27, with the first rate decision scheduled for April 6–8.
The six-member rate-setting panel, headed by the Reserve Bank Governor, will hold six meetings in the next financial year.
Typically, the panel votes on a resolution on the third day of the meeting, and the RBI Governor announces the decision after the vote is completed.
The second bi-monthly policy review meeting will be held from June 3 to 5, the statement said, adding that this will be followed by three-day meetings in August, October, December, and February.
The Monetary Policy Committee (MPC) of India is a six-member body tasked with fixing the benchmark policy rate (repo rate) to contain inflation. It comprises three RBI officials (including the Governor as Chairperson) and three external members appointed by the Central Government.
The MPC announces the bi-monthly monetary policy after deliberations on the prevailing domestic and global economic situations, taking into account retail inflation.
At its last meeting held in February, the committee had kept the short-term lending rate (repo) unchanged at 5.25 per cent.
The government initially notified the inflation target, along with the tolerance band, on August 5, 2016, for the period 2016–2021.
In the first review conducted in March 2021, this target was retained for the subsequent five years, till March 2026.
A second review of the target is now due by the end of March 2026.