Following are the highlights of the bi-monthly monetary policy announced by Reserve Bank Governor Sanjay Malhotra on Friday:
Photograph: Francis Mascarenhas/Reuters
- Benchmark lending rates unchanged with repo rate at 5.25%
- Monetary policy stance remains neutral
- GST reforms, monetary easing, low inflation to support pvt consumption
- Trade deals to boost exports
- GDP growth projections revised upwards for Q1 and Q2 of FY27 to 6.9% and 7%, respectively
- Measures in Union Budget conducive for economic growth
- Retail inflation for current fiscal projected at 2.1%
- CPI inflation for Q1 and Q2 of FY27 projected at 4% and 4.2%, respectively
- Excluding precious metals, underlying inflation pressures remain muted
- India’s forex reserves stood at $723.8 bn
- Framework soon to compensate customers up to Rs 25,000 for losses in frauds
- RBI proposes measures to protect senior citizens from digital frauds
- Collateral-free loan limit for MSMEs to be doubled to Rs 20 lakh
- Banks to be allowed lend to REITs
- Branch opening norms for certain types of NBFCs to be relaxed
- Next meeting of RBI’s MPC scheduled for April 6- 8, 2026.
