New Update
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Sanjay Malhotra
New Delhi: After three successive interest cuts, the Reserve Bank on Wednesday decided to keep policy rate unchanged at 5.5 per cent and retained the neutral stance, weighed by concerns over tariff uncertainties.
Announcing the third bi-monthly monetary policy of the current fiscal, RBI Governor Sanjay Malhotra said that the growth rate projection for FY26 has been retained at 6.5 per cent.
Here are the key takeaways from the third bi-monthly monetary policy of this fiscal:
- MPC decided to keep policy rate unchanged at 5.5%
- Monsoon progressing well, which brings buoyancy in the economy
- Core inflation has remained steady as expected at 4%
- The impact of 100 bps rate cut is still unfolding
- Growth in industrial sector remained subdued and uneven
- Above normal monsoon, lower inflation continue to support economic activity
- RBI retains GDP growth forecast for current fiscal year at 6.5% with risk evenly balanced; geopolitical tensions pose headwinds
- RBI projects inflation at 3.1% during FY26, lower from June estimates of 3.7%
- Current account deficit likely to remain at sustainable level
- System liquidity has been in surplus
- Despite challenging external environment, Indian economy navigating steady growth path with price stability
- Interest and welfare of Indian citizen remain foremost
- Financial parameters related to capital adequacy and liquidity of public sector banks remain healthy
- RBI to standardise claim settlement in respect of accounts and articles kept in bank lockers
- Continue to be agile and proactive in maintaining and providing facilitative monetary