Banks › Reserve Bank of India › History › 6 Feb 2026
Reserve Bank of India: decision of 6 February 2026
The Reserve Bank of India's Monetary Policy Committee kept the policy repo rate at 5.25% and retained its neutral stance.
Decision
hold
- Rate
- 5.25%=5.25%
- Change
- 0 bp
- Vote
- unanimous
- Announced
Sources
- Statement
https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=62169- Recorded
- 6 Feb 2026
- Data
- JSON
What the bank said
The MPC noted that headline CPI inflation was 0.7% in November and 1.3% in December 2025, below the tolerance band, and that the outlook for the first half of 2026-27 remained benign and near target.
It said the slight upward revision to its inflation outlook came mainly from higher prices of precious metals, while underlying inflation stayed low.
The MPC said economic activity remained resilient, with real GDP estimated to grow 7.4% in 2025-26, and judged the current policy rate appropriate.
Guidance. The MPC said it would be guided by evolving macroeconomic conditions and the outlook, based on data from the new series, in charting the future course of policy.
Dissent
On the stance, Prof. Ram Singh retained his view that it should change from neutral to accommodative.
Before and after
- Previous decision: 5 Dec 2025, cut the policy repo rate by 25 bp to 5.25%.
- Next decision: 8 Apr 2026, held the policy repo rate at 5.25%.
- All Reserve Bank of India decisions and the rate history