MPC Meeting Resolutions
Every Monetary Policy Committee decision — repo rate, stance, GDP and inflation projections — in one place. Updated after each meeting.
Latest: 62th MPC Meeting · 3–5 August 2026
CURRENT POLICY RATES — AS OF 3–5 AUGUST 2026
5.25%
Policy Repo Rate
5%
Standing Deposit Facility
5.5%
Marginal Standing Facility
5.5%
Bank Rate
All MPC Meetings (1)
About the MPC
What is the MPC?
The Monetary Policy Committee is a six-member statutory body constituted under the Reserve Bank of India Act, 1934. It is responsible for fixing the benchmark interest rate (repo rate) in India.
How often does it meet?
The MPC meets at least four times a year. Meetings are typically held bi-monthly over three days, and the resolution is published on the last day. Minutes are published 14 days after the resolution.
What is the repo rate?
The repo rate is the interest rate at which the RBI lends short-term funds to commercial banks. It is the primary tool for controlling inflation and stimulating or cooling economic growth.
What is the inflation target?
The RBI's mandate is to maintain CPI inflation at 4%, with a tolerance band of ±2% (i.e., 2–6%). The MPC adjusts the policy rate to keep inflation within this range over the medium term.
Source: Reserve Bank of India press releases. For regulatory purposes, always refer to the official RBI website (rbi.org.in).