The Reserve Bank of India (RBI) announced the schedule for the Monetary Policy Committee (MPC) meetings for the upcoming fiscal year, starting in April 2025 on Wednesday. The rate-setting panel will hold six meetings, with the first scheduled for April 7-9, 2025.
The most recent MPC meeting took place in February 2025 under the leadership of the new RBI Governor, Sanjay Malhotra, during which he announced a reduction in the repo rate by a quarter percentage point to 6.25 per cent.
Dates Of Meetings Of MPC For Financial Year 2025-26
- April 7, 8 and 9, 2025
- June 4, 5 and 6, 2025
- August 5, 6 and 7, 2025
- September 29, 30 and October 1, 2025
- December 3, 4 and 5, 2025
- February 4, 5 and 6, 2026
What Is RBI MPC?
The MPC is a six-member body that plays a crucial role in shaping the country’s monetary policy. Its primary responsibility is to determine key interest rates, including the repo rate, which directly impacts borrowing and lending costs in the economy. The committee’s primary objective is to ensure price stability by managing inflation levels while also fostering an environment conducive to sustainable economic growth. The MPC carefully evaluates a range of economic factors, such as inflation trends, GDP growth, and global economic conditions, to make decisions that balance the need for price stability with the broader goal of supporting the nation’s economic progress.
The MPC meets every two months to review and set the repo rate, a key interest rate that affects loan and deposit rates throughout the economy. The MPC’s decisions are pivotal in managing inflation, stabilizing the currency, and ensuring overall financial stability.
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Members Of The RBI MPC?
As per the RBI Act, the MPC is composed of six members. Three of these members are from the RBI—typically the governor, the deputy governor responsible for monetary policy, and another officer appointed by the RBI board. The remaining three members are appointed by the government. The RBI governor chairs the committee. The current members of the MPC are:
- RBI Governor Sanjay Malhotra
- RBI Executive Director Dr. Rajiv Ranjan
- RBI Deputy Governor M. Rajeshwar Rao
- Dr. Nagesh Kumar
- Saugata Bhattacharya
- Prof. Ram Singh
