RBI Monetary Policy Meeting LIVE Updates: Will Governor Sanjay Malhotra hold repo rate steady as the $100 oil shock hits India?

RBI Repo Rate Cut, RBI Monetary Policy Meeting April 2026 Today LIVE News Updates: RBI Governor Sanjay Malhotra leads the MPC meet amid US-Iran tensions and rising oil prices. Will the repo rate stay at 5.25%? Get the latest on India's monetary policy stance.

RBI Policy April 2026 Meeting Live: The Reserve Bank of India (RBI) is set to announce its latest monetary policy decision on today, April 8, following the end of the Governor Sanjay Malhotra-led Monetary Policy Committee’s (MPC) three-day meeting held from April 6. The rate-setting panel, chaired by Governor Sanjay Malhotra, meets every two months to review key economic indicators and determine the policy stance.

This policy review comes at a time of heightened global uncertainty, largely driven by escalating tensions in West Asia. The ongoing conflict involving the United States and Iran has disrupted critical energy supply routes, particularly the Strait of Hormuz, triggering a sharp spike in crude oil prices. Although a temporary two-week ceasefire has been agreed upon, easing some immediate concerns, the broader economic impact continues to weigh on global and domestic markets. Rising oil prices have already begun to ripple through the Indian economy. The country, which relies heavily on imports for its energy needs, is particularly vulnerable to supply disruptions. A significant portion of its crude imports passes through the Strait of Hormuz, making any blockage or slowdown in that corridor a direct risk to supply and costs. As prices surged, the rupee weakened sharply, while equity markets saw heightened volatility alongside notable foreign investor outflows.

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The impact is not limited to currency and markets. Higher fuel costs are feeding into broader inflationary pressures and raising input costs across multiple sectors, including aviation and hospitality. Air India on Tuesday had raised its fuel surcharge for the second time since the war began on February 28. Concerns are also emerging around supply chains, especially for fertilisers and other critical imports from the Gulf region. At the same time, uncertainties in the Middle East could affect remittance flows, which form an important part of India’s external inflows.

RBI has a balancing act at hand

At such a time, the RBI faces a complex balancing act. On one hand, rising crude prices risk pushing inflation higher, which could warrant tighter monetary policy. On the other, slowing growth momentum may call for a more accommodative approach to support economic activity. Most economists expect the MPC to keep the repo rate unchanged at 5.25% and maintain its ‘neutral’ stance. The central bank has already reduced rates by a cumulative 125 basis points since February 2025 and has held them steady in recent reviews. Given the current uncertainty, a pause is widely seen as the most likely outcome, with policymakers expected to adopt a cautious tone.

In its previous policy, the RBI had expressed confidence in economic resilience, revising its near-term growth projections slightly upward. It had also flagged a gradual firming up of inflation in early FY27. However, the evolving global situation has altered the outlook significantly, with risks to both growth and price stability becoming more pronounced.

Live Updates
Apr 8, 2026 08:09 AM IST
RBI Monetary Policy Meeting LIVE Updates: Ficci president expects pause on repo rate

Ficci president Anant Goenka on Tuesday said inflation was 'very much in control' before the war and the Indian economy had a lot of positive momentum. "After the war, we are seeing a lot more uncertainty, crude prices having gone up. I think the RBI may possibly pause on its rate cut," he said.

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Apr 8, 2026 08:04 AM IST
RBI Monetary Policy Meeting LIVE Updates: What are the economic stances usually taken by the RBI MPC? What do they mean?

The monetary policy stance of the Reserve Bank of India is simply a signal about where interest rates and borrowing costs might head next. It helps people, banks and businesses understand whether money will become cheaper or more expensive.

Depending on the prevailing economic situation the RBI broadly takes one of the three stances: accommodative, neutral, or tightening.

An accommodative stance means the RBI wants to support the economy. In simple terms, it tries to keep loans cheaper so people spend more and businesses invest. This is usually seen when growth is weak and there is less cash flowing around.

A neutral stance is like a "wait and watch" mode. The RBI is not leaning towards increasing or cutting rates. Instead, it keeps its options open depending on how inflation and growth move.

A tightening stance (also called "hawkish") is used when prices are rising too fast. Here, the RBI may make loans costlier to reduce spending and bring inflation under control.

In general, these approaches decided in the MPC meetings influence the common man's EMIs, savings returns, and business activity. So when the RBI changes its stance, it's essentially guiding how easy or expensive money will be in the near future.

Apr 8, 2026 07:49 AM IST
RBI Monetary Policy Meeting LIVE Updates: What the MPC had decided in 2025

The RBI in 2025 took a cautious approach in deciding the repo rates. Here's how what it decided.

February: 25 bps rate cut, neutral stance

April: 25 bps rate cut, neutral stance

June: 50 bps rate cut, neutral stance

December: 25 bps rate cut, neutral stance

In February 2026, it kept the stance 'neutral' and kept the repo rate unchanged at 5.25%.

Apr 8, 2026 07:38 AM IST
RBI Monetary Policy Meeting LIVE Updates: What is the RBI's MPC?

The Monetary Policy Committee (MPC) is a panel of six members, which charts the fiscal course of the country by deciding on the benchmark policy rate (repo rate) to check inflation, deflation, and recession. On the committee are 3 RBI officials and 3 Central government-appointed members. The committee is headed by the Governor. The two other members of the RBI are the Deputy Governor and a central board-nominated official.

The members MPC hold office for a period of four years or until further orders, whichever is earlier, as per the Reserve Bank of India Act, 1934. The Committee determines the Policy Rate required to achieve the inflation target.

The MPC meeting is held every 2 months.

Apr 8, 2026 07:29 AM IST
RBI Monetary Policy Meeting LIVE Updates: Where and how to watch Sanjay Malhotra's fiscal policy announcement

The fiscal policy announcement by RBI Governor Sanjay Malhotra will be broadcast via the RBI's official YouTube channel. You can also catch all the live updates from the announcement on The Indian Express.

Apr 8, 2026 07:26 AM IST
RBI Monetary Policy Meeting LIVE Updates: Sanjay Malhotra-led panel to make key fiscal policy announcements today

After reducing the repo rate by 125 basis points in 2025 and holding the rate steady at 5.25% in its last meeting in February 2026, the RBI Monetary Policy Committee (MPC) is now faced with the complex task of deciding India's fiscal policy for the next 3 months. Key announcement on the central bank's stance and other fiscal decisions will be announced around 10 AM after the Sanjay Malhotra-led panel ends its meeting today.

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