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PolicyRBIWednesday, 19 August 2026

Minutes of the Monetary Policy Committee Meeting, August 3 to 5, 2026

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Summary
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The sixty second meeting of the Monetary Policy Committee (MPC), constituted under Section 45ZB of the Reserve Bank of India Act, 1934, was held during August 3 to 5, 2026. 2. The meeting was chaired by Shri Sanjay Malhotra, Governor and was attended by all the members – Dr. Nagesh Kumar, Director and Chief Executive, Institute for Studies in Industrial Development, New Delhi; Shri Saugata Bhattacharya, Economist, Mumbai; Professo
Key Facts
TypePolicy
SourceReserve Bank of India
PublishedWednesday, 19 August 2026
Affected Population1.4 billion citizens, 63 million MSMEs
Key Numbers
GDP: $3.9 trillion (2025 est.)
Fiscal deficit target: 4.4% of GDP
GST collection: Rs 1.87 lakh crore/month avg
Key Authorities
Ministry of FinanceRBISEBIDEA
Key Stakeholders
TaxpayersBanks & NBFCsInvestors
Government Context
NDA IIIBJP-led NDA
Centre-Right
LeftCentreRight
Amendment History
9 changes recorded for this policy.
DescriptionThursday, 20 August 2026via policyradar
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The sixty second meeting of the Monetary Policy Committee (MPC), constituted under Section 45ZB of the Reserve Bank of India Act, 1934, was held during August 3 to 5, 2026. 2. The meeting was chaired by Shri Sanjay Malhotra, Governor and was attended by all the members – Dr. Nagesh Kumar, Director and Chief Executive, Institute for Studies in Industrial Development, New Delhi; Shri Saugata Bhattacharya, Economist, Mumbai; Professo
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The sixty second meeting of the Monetary Policy Committee (MPC), constituted under Section 45ZB of the Reserve Bank of India Act, 1934...
DescriptionThursday, 20 August 2026via policyradar
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The sixty second meeting of the Monetary Policy Committee (MPC), constituted under Section 45ZB of the Reserve Bank of India Act, 1934, was held during August 3 to 5, 2026. 2. The meeting was chaired by Shri Sanjay Malhotra, Governor and was attended by all the members – Dr. Nagesh Kumar, Director and Chief Executive, Institute for Studies in Industrial Development, New Delhi; Shri Saugata Bhattacharya, Economist, Mumbai; Professo
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The sixty second meeting of the Monetary Policy Committee (MPC), constituted under Section 45ZB of the Reserve Bank of India Act, 1934...
DescriptionThursday, 20 August 2026via policyradar
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The sixty second meeting of the Monetary Policy Committee (MPC), constituted under Section 45ZB of the Reserve Bank of India Act, 1934, was held during August 3 to 5, 2026. 2. The meeting was chaired by Shri Sanjay Malhotra, Governor and was attended by all the members – Dr. Nagesh Kumar, Director and Chief Executive, Institute for Studies in Industrial Development, New Delhi; Shri Saugata Bhattacharya, Economist, Mumbai; Professo
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The sixty second meeting of the Monetary Policy Committee (MPC), constituted under Section 45ZB of the Reserve Bank of India Act, 1934...
DescriptionFriday, 21 August 2026via policyradar
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The sixty second meeting of the Monetary Policy Committee (MPC), constituted under Section 45ZB of the Reserve Bank of India Act, 1934, was held during August 3 to 5, 2026. 2. The meeting was chaired by Shri Sanjay Malhotra, Governor and was attended by all the members – Dr. Nagesh Kumar, Director and Chief Executive, Institute for Studies in Industrial Development, New Delhi; Shri Saugata Bhattacharya, Economist, Mumbai; Professo
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The sixty second meeting of the Monetary Policy Committee (MPC), constituted under Section 45ZB of the Reserve Bank of India Act, 1934...
DescriptionFriday, 21 August 2026via policyradar
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The sixty second meeting of the Monetary Policy Committee (MPC), constituted under Section 45ZB of the Reserve Bank of India Act, 1934, was held during August 3 to 5, 2026. 2. The meeting was chaired by Shri Sanjay Malhotra, Governor and was attended by all the members – Dr. Nagesh Kumar, Director and Chief Executive, Institute for Studies in Industrial Development, New Delhi; Shri Saugata Bhattacharya, Economist, Mumbai; Professo
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The sixty second meeting of the Monetary Policy Committee (MPC), constituted under Section 45ZB of the Reserve Bank of India Act, 1934...
DescriptionFriday, 21 August 2026via policyradar
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The sixty second meeting of the Monetary Policy Committee (MPC), constituted under Section 45ZB of the Reserve Bank of India Act, 1934, was held during August 3 to 5, 2026. 2. The meeting was chaired by Shri Sanjay Malhotra, Governor and was attended by all the members – Dr. Nagesh Kumar, Director and Chief Executive, Institute for Studies in Industrial Development, New Delhi; Shri Saugata Bhattacharya, Economist, Mumbai; Professo
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The sixty second meeting of the Monetary Policy Committee (MPC), constituted under Section 45ZB of the Reserve Bank of India Act, 1934...
DescriptionFriday, 21 August 2026via policyradar
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The sixty second meeting of the Monetary Policy Committee (MPC), constituted under Section 45ZB of the Reserve Bank of India Act, 1934, was held during August 3 to 5, 2026. 2. The meeting was chaired by Shri Sanjay Malhotra, Governor and was attended by all the members – Dr. Nagesh Kumar, Director and Chief Executive, Institute for Studies in Industrial Development, New Delhi; Shri Saugata Bhattacharya, Economist, Mumbai; Professo
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The sixty second meeting of the Monetary Policy Committee (MPC), constituted under Section 45ZB of the Reserve Bank of India Act, 1934...
DescriptionSaturday, 22 August 2026via policyradar
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The sixty second meeting of the Monetary Policy Committee (MPC), constituted under Section 45ZB of the Reserve Bank of India Act, 1934, was held during August 3 to 5, 2026. 2. The meeting was chaired by Shri Sanjay Malhotra, Governor and was attended by all the members – Dr. Nagesh Kumar, Director and Chief Executive, Institute for Studies in Industrial Development, New Delhi; Shri Saugata Bhattacharya, Economist, Mumbai; Professo
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The sixty second meeting of the Monetary Policy Committee (MPC), constituted under Section 45ZB of the Reserve Bank of India Act, 1934...
DescriptionSaturday, 22 August 2026via policyradar
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The sixty second meeting of the Monetary Policy Committee (MPC), constituted under Section 45ZB of the Reserve Bank of India Act, 1934, was held during August 3 to 5, 2026. 2. The meeting was chaired by Shri Sanjay Malhotra, Governor and was attended by all the members – Dr. Nagesh Kumar, Director and Chief Executive, Institute for Studies in Industrial Development, New Delhi; Shri Saugata Bhattacharya, Economist, Mumbai; Professo
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The sixty second meeting of the Monetary Policy Committee (MPC), constituted under Section 45ZB of the Reserve Bank of India Act, 1934...
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