The Reserve Bank of India has published the minutes of the Monetary Policy Committee meeting held from October 5 to 7, 2026. All six members voted to raise the policy repo rate by 25 basis points to 5.50 per cent. The standing deposit facility rate is now 5.25 per cent, and the marginal standing facility rate and Bank Rate are 5.75 per cent.
The committee also changed its stance from neutral to “calibrated tightening”. RBI said this signals that rate cuts are off the table in the near term. Two members, Dr. Nagesh Kumar and Prof. Ram Singh, supported the hike but wanted to keep the stance neutral.
The MPC projects real GDP growth of 7.1 per cent and CPI inflation of 5.2 per cent for 2026-27. The next meeting is scheduled for December 2 to 4, 2026.
Source
Reserve Bank of India, Press Release 2026-2027/1361, “Minutes of the Monetary Policy Committee Meeting, October 5 to 7, 2026”, 21 October 2026. Read the original release.
Summary of an official release for general information only. Not investment advice. Read the original source before acting on any information.
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