Monetary policy review: Reading the fineprint

The Reserve Bank of India has kept the repo rate unchanged at 5.25 per cent and retained its neutral stance, signalling caution as it weighs inflation risks, growth concerns and global uncertainty. The decision comes at a time when the central bank has raised its inflation forecast for FY27 to 4.6 per cent from 4 per cent earlier, while projecting GDP growth at 6.9 per cent for the current financial year. RBI Governor Sanjay Malhotra has also flagged risks from West Asia tensions, supply-chain disruptions, financial-market volatility and weather-related shocks.

 

In this webinar, Ankur Bhardwaj will speak with Business Standard's Editorial Director A K Bhattacharya to unpack what the policy decision really means beyond the headline. Why has the RBI chosen to hold rates for a second straight review after substantial cuts since February 2025? What does the unchanged stance suggest about the central bank’s comfort on inflation? And how should borrowers, savers, businesses and markets read the fine print on growth, liquidity and risk?

 

The discussion will decode the RBI’s message, the policy trade-offs ahead, and what to watch next in India’s monetary policy path.