Bi-monthly Monetary Policy 2025
The Reserve Bank of India’s Monetary Policy Committee (MPC) has announced the outcome of its first policy review of the new financial year. RBI MPC voted unanimously for the repo rate to be reduced by 25 bps to 6%, effective immediately. The RBI MPC reduces the SDF rate to 5.75% and the MSF rate to 6.25%.
The Monetary Policy Committee (MPC) held its 54th meeting from April 7 to 9, 2025 under the chairmanship of Shri Sanjay Malhotra, Governor, Reserve Bank of India. The MPC members Dr. Nagesh Kumar, Shri Saugata Bhattacharya, Prof. Ram Singh, Dr. Rajiv Ranjan, and Shri M. Rajeshwar Rao attended the meeting. The remaining meetings for this year are scheduled for June 4–6, August 5–7, September 29–October 1, December 3–5, and February 4–6.
| Policy | Rate |
|---|---|
| Policy Repo Rate | 6.00% |
| Standing Deposit Facility (SDF) Rate | 5.75% |
| Marginal Standing Facility (MSF) Rate | 6.25% |
| Bank Rate | 6.25% |
| Fixed Reverse Repo Rate | 3.35% |
| GDP Growth Projections | Previous | Now |
| FY26 | 6.7% | 6.5% |
| Q1FY26 | 6.7% | 6.5% |
| Q2FY26 | 7.0% | 6.7% |
| Q3FY26 | 6.5% | 6.6% |
| Q4FY26 | 6.5% | 6.3% |
| CPI Inflation Projections | Previous | Now |
| FY26 | 4.2% | 4.0% |
| Q1FY26 | 4.5% | 3.6% |
| Q2FY26 | 4.0% | 3.9% |
| Q3FY26 | 3.8% | 3.8% |
| Q4FY26 | 4.2% | 4.4% |
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