RBI Monetary Policy Dates
When the Monetary Policy Committee meets next, every meeting in RBI's published schedule for the year, and what each one decided.
The next RBI monetary policy decision is due on Friday 4 December 2026, at the end of the MPC meeting on 2-4 December 2026. The last one, on 7 Oct 2026, raised the repo rate to 5.50%. After that, the year's last meeting is 3-5 February 2027.
RBI's Monetary Policy Committee sets the repo rate at meetings it schedules a year ahead. RBI publishes the year's dates each March, and every decision is announced on the last day of the meeting.
MPC meeting dates 2026-27
| Meeting | Decision announced | Outcome |
|---|---|---|
| 6-8 April 2026 | Wednesday 8 April 2026 | Held at 5.25% (RBI) |
| 3-5 June 2026 | Friday 5 June 2026 | Held at 5.25% (RBI) |
| 3-5 August 2026 | Wednesday 5 August 2026 | Held at 5.25% (RBI) |
| 5-7 October 2026 | Wednesday 7 October 2026 | Raised 25 bps to 5.50% (RBI) |
| 2-4 December 2026 | Friday 4 December 2026 | Next |
| 3-5 February 2027 | Friday 5 February 2027 | Due |
Dates from RBI's "Meeting Schedule of the Monetary Policy Committee for 2026-27" (press release of 23 Mar 2026). The decision is announced on the last day of each meeting.
What happens on policy day
The committee meets for three days. On the last day RBI publishes the MPC's resolution with the repo rate decision, the Governor reads a statement, and RBI holds a press conference. The minutes, with each member's vote and reasoning, follow two weeks later.
The repo rate decision takes effect immediately. The current rate and every past decision are on the repo rate page.
Every policy decision date since 2016
| Year | Decisions |
|---|---|
| 2026 | 6 Feb 2026: held at 5.25%; 8 Apr 2026: held at 5.25%; 5 Jun 2026: held at 5.25%; 5 Aug 2026: held at 5.25%; 7 Oct 2026: raised 25 bps to 5.50% |
| 2025 | 7 Feb 2025: cut 25 bps to 6.25%; 9 Apr 2025: cut 25 bps to 6.00%; 6 Jun 2025: cut 50 bps to 5.50%; 6 Aug 2025: held at 5.50%; 1 Oct 2025: held at 5.50%; 5 Dec 2025: cut 25 bps to 5.25% |
| 2024 | 8 Feb 2024: held at 6.50%; 5 Apr 2024: held at 6.50%; 7 Jun 2024: held at 6.50%; 8 Aug 2024: held at 6.50%; 9 Oct 2024: held at 6.50%; 6 Dec 2024: held at 6.50% |
| 2023 | 8 Feb 2023: raised 25 bps to 6.50%; 6 Apr 2023: held at 6.50%; 8 Jun 2023: held at 6.50%; 10 Aug 2023: held at 6.50%; 6 Oct 2023: held at 6.50%; 8 Dec 2023: held at 6.50% |
| 2022 | 10 Feb 2022: held at 4.00%; 8 Apr 2022: held at 4.00%; 4 May 2022: raised 40 bps to 4.40%; 8 Jun 2022: raised 50 bps to 4.90%; 5 Aug 2022: raised 50 bps to 5.40%; 30 Sep 2022: raised 50 bps to 5.90%; 7 Dec 2022: raised 35 bps to 6.25% |
| 2021 | 5 Feb 2021: held at 4.00%; 7 Apr 2021: held at 4.00%; 4 Jun 2021: held at 4.00%; 6 Aug 2021: held at 4.00%; 8 Oct 2021: held at 4.00%; 8 Dec 2021: held at 4.00% |
| 2020 | 6 Feb 2020: held at 5.15%; 27 Mar 2020: cut 75 bps to 4.40%; 22 May 2020: cut 40 bps to 4.00%; 6 Aug 2020: held at 4.00%; 9 Oct 2020: held at 4.00%; 4 Dec 2020: held at 4.00% |
| 2019 | 7 Feb 2019: cut 25 bps to 6.25%; 4 Apr 2019: cut 25 bps to 6.00%; 6 Jun 2019: cut 25 bps to 5.75%; 7 Aug 2019: cut 35 bps to 5.40%; 4 Oct 2019: cut 25 bps to 5.15%; 5 Dec 2019: held at 5.15% |
| 2018 | 7 Feb 2018: held at 6.00%; 5 Apr 2018: held at 6.00%; 6 Jun 2018: raised 25 bps to 6.25%; 1 Aug 2018: raised 25 bps to 6.50%; 5 Oct 2018: held at 6.50%; 5 Dec 2018: held at 6.50% |
| 2017 | 8 Feb 2017: held at 6.25%; 6 Apr 2017: held at 6.25%; 7 Jun 2017: held at 6.25%; 2 Aug 2017: cut 25 bps to 6.00%; 4 Oct 2017: held at 6.00%; 6 Dec 2017: held at 6.00% |
| 2016 | 4 Oct 2016: cut 25 bps to 6.25%; 7 Dec 2016: held at 6.25% |
The committee has also met outside its schedule: 27 Mar 2020, 22 May 2020, 4 May 2022. The first two came at the start of the pandemic; the third began the 2022 rate rises.
Key takeaways
- Next decision: Friday 4 December 2026 (meeting 2-4 December 2026).
- Last decision: 7 Oct 2026, raised the repo rate by 25 basis points to 5.50%.
- 6 scheduled meetings in 2026-27.
Frequently asked questions
When is the next RBI monetary policy?
The next RBI monetary policy decision is due on Friday 4 December 2026, at the end of the MPC meeting on 2-4 December 2026. The last one, on 7 Oct 2026, raised the repo rate to 5.50%. After that, the year's last meeting is 3-5 February 2027.
How many times a year does the MPC meet?
The RBI Act requires at least four meetings a year. RBI scheduled 6 for 2026-27.
Where is the RBI policy decision published?
On rbi.org.in, as a press release titled "Monetary Policy Statement - Resolution of the Monetary Policy Committee", on the last day of the meeting.
What did RBI decide at the last policy?
On 7 Oct 2026 the MPC raised the repo rate by 25 basis points to 5.50%.