RBI publishes minutes of 62nd MPC meeting; repo held at 5.25%
The RBI on 19 August 2026 published minutes of the Monetary Policy Committee's 62nd meeting (3-5 August), which unanimously kept the repo rate at 5.25% with a neutral stance.
Summary
The Reserve Bank of India on 19 August 2026 published the minutes of the 62nd meeting of the Monetary Policy Committee (MPC), held from 3 to 5 August 2026 under Governor Sanjay Malhotra. The minutes are published under Section 45ZL of the RBI Act, 1934, and the MPC itself is constituted under Section 45ZB. The committee voted unanimously to keep the policy repo rate unchanged at 5.25%, so the Standing Deposit Facility rate stays at 5.00% and the Marginal Standing Facility rate and Bank Rate at 5.50%. It also decided to continue with a neutral stance, and the next meeting is scheduled for 5 to 7 October 2026.
Key facts
- Meeting
- 62nd MPC meeting, 3-5 August 2026
- Minutes released
- 19 August 2026 (Section 45ZL, RBI Act)
- Repo rate
- 5.25% (unanimous)
- SDF / MSF and Bank Rate
- 5.00% / 5.50%
- Stance
- Neutral
- Next meeting
- 5-7 October 2026
Practice MCQs 3 questions
At what level did the RBI's Monetary Policy Committee keep the policy repo rate at its 3-5 August 2026 meeting, as recorded in the minutes released on 19 August?
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Correct answer: B — 5.25%
The MPC unanimously kept the repo rate at 5.25%; the SDF rate is 5.00% and the MSF rate and Bank Rate are 5.50%.
The RBI Monetary Policy Committee meeting held from 3 to 5 August 2026 was its
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Correct answer: D — 62nd meeting
The minutes describe it as the sixty-second meeting of the MPC.
Consider the following statements about the RBI MPC minutes released on 19 August 2026: 1. The minutes are published under Section 45ZL of the RBI Act, 1934. 2. The MPC changed its stance from neutral to accommodative. Which of the above is/are correct?
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Correct answer: A — 1 only
Only statement 1 is correct. The MPC decided to continue with the neutral stance.