RBI MPC keeps policy rate unchanged at 5.25%

The Reserve Bank of India's Monetary Policy Committee (MPC) unanimously decided to keep the policy repo rate unchanged at 5.25%, maintaining a neutral stance. Consequently, other rates like SDF, MSF, and bank rate also remain unchanged. RBI Governor Sanjay Malhotra noted the Indian economy's resilience amidst global headwinds, with steady domestic demand and resilient investment. Real GDP growth for 2026-27 is projected at 6.7%. While CPI inflation rose to 4.4% in June 2026, primarily due to higher food and fuel prices, core inflation remained moderate. The MPC acknowledged risks from El Niño, geopolitics, and global trade policy, emphasizing the need for clarity on inflation's path before further policy action.