RBI holds repo rate at 5.25% and lifts FY27 growth outlook to 6.7%

Reserve Bank of India repo rate FY27 GDP growth Sanjay Malhotra inflation

On 5 August 2026 the Reserve Bank of India’s Monetary Policy Committee kept the benchmark repo rate unchanged at 5.25 percent and retained a neutral policy stance. The Standing Deposit Facility rate stayed at 5.0 percent while the Marginal Standing Facility and bank rate remained at 5.5 percent. Governor Sanjay Malhotra said the decision reflects persistent global uncertainties – notably West‑Asia tensions and volatile oil prices – and the need for clearer inflation outlooks.

The RBI raised its FY27 GDP‑growth forecast to 6.7 percent, up from 6.6 percent, citing strong domestic demand, robust private consumption and continued expansion in manufacturing, services and exports. Inflation is projected at 5.0 percent for the fiscal year, with headline CPI expected to peak around 5.9 percent in the third quarter before easing. Core inflation remains moderate. Foreign‑exchange reserves were about $682 billion in late July 2026, providing ample buffers.

This marks the fourth consecutive meeting in which the repo rate was left unchanged, signalling the central bank’s cautious approach amid external risks and monsoon‑related uncertainties.

Entities: Fiscal Year 2026‑27 · Foreign exchange reserves · India · Indian economy · Indian economy · Indian rupee · Monetary Policy Committee · Reserve Bank of India · Retail inflation · Sanjay Malhotra

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

[● 17 SOURCES] The RBI projected GDP growth for FY 27 at roughly 6.7 percent. (RBI MPC decision)
[● 12 SOURCES] Inflation is expected to peak in Q3 FY 27 at about 5.9 percent. (RBI MPC projection)
[● 14 SOURCES] Foreign exchange reserves stood at about USD 682 billion in late July 2026. (RBI data)
[● 3 SOURCES] Retail inflation in India remained within the RBI’s tolerance band of 2‑6 percent. (RBI Governor statement)
[● 2 SOURCES] Governor Sanjay Malhotra announced the repo‑rate decision at 10:00 a.m. and held a press conference at 12:00 p.m. (RBI schedule)
[● 17 SOURCES] The RBI retained a neutral policy stance. (RBI MPC decision)
[● 20 SOURCES] The RBI kept the repo rate unchanged at 5.25% on August 5, 2026. (RBI MPC decision)
[● 18 SOURCES] The Standing Deposit Facility rate remained at 5.0% and the Marginal Standing Facility rate at 5.5%. (RBI MPC decision)
[● 5 SOURCES] The Standing Deposit Facility rate remained at 5.0% and the Marginal Standing Facility and bank rates stayed at 5.5%. (dd29a471-2053-4114-816f-d2678f16feae, 83e48d8e-47b4-4a57-a18e-d8dfc3b6ef94, dbe9d94c-3cb7-4558-a320-190dcc081b29)
[● 14 SOURCES] The RBI projected CPI inflation for FY 27 at 5.0 percent. (RBI MPC decision)
[● 12 SOURCES] The RBI retained a neutral policy stance in its August 2026 monetary policy decision. (dd29a471-2053-4114-816f-d2678f16feae, 83e48d8e-47b4-4a57-a18e-d8dfc3b6ef94, dbe9d94c-3cb7-4558-a320-190dcc081b29, 5f9c1b)
[● 4 SOURCES] Governor Sanjay Malhotra announced the repo‑rate decision at 10:00 a.m. on 5 August 2026. (8f30078f-f575-44e3-8cb7-7bab51756d8a, 5f9c1bf2-a292-4e03-b429-1888679c118b, 6c3dc691-b9ed-426a-9367-4273ccac3e9b)