The former revenue secretary in the Ministry of Finance, Malhotra is expected to announce the cuts to lower interest rates for economy’s growth which is expected to reach a four year low.

RBI Governor Sanjay Malhotra has announced that the Monetary Policy Committee (MPC) has decided to cut the benchmark repo rate by 6.5%

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As per a Reuters poll, more than 70% of respondents expect that RBI would change the repo rates by 25 basis points to 6.25%. However, others expect that the rates would remain unchanged as the inflation is still above the target range set by the Reserve Bank.

This is the first meeting of the panel under the leadership of RBI Governor Sanjay Malhotra, who assumed office in December 2024 following the end of Shaktikanta Das' tenure.

The Reserve Bank of India’s monetary policy committee (MPC) today unanimously slashed the repo rate by 25 basis points to 6.25% after keeping the key policy rate unchanged for six consecutive times. The MPC also decided unanimously to continue with the 'neutral' policy stance.

RBI Governor Sanjay Malhotra stated that the bank's forex policy favors stable market operations without targeting any specific exchange rate. The Rupee hit a record low of 87.5825 before closing at 87.

The RBI's Monetary Policy Committee cut the repo rate by 25 bps for the first time in nearly five years, maintaining a neutral stance. Governor Sanjay Malhotra noted inflation aligns with targets amid concerns over economic growth and signs of inflation nearing 4 per cent.