RBI MPC FY27 schedule: 6 policy meeting dates list

What the RBI has announced

The Reserve Bank of India (RBI) has published the meeting calendar for its Monetary Policy Committee (MPC) for the financial year 2026-27. The schedule was announced on Monday, March 23, 2026. The MPC is the RBI’s six-member rate-setting panel that meets through the year to assess macroeconomic conditions and decide on key policy tools, including interest rates and liquidity measures.

For market participants, the calendar matters because it sets the dates when the RBI will formally review monetary conditions and communicate its stance. It also helps banks, borrowers, and investors plan around policy decisions that can influence funding costs, bond yields, and rate-sensitive sectors.

Full RBI MPC meeting schedule for FY 2026-27

The RBI’s calendar shows six meetings through FY2026-27, starting in April 2026 and ending in early February 2027. Meetings are spaced for bi-monthly reviews.

As per the schedule, the first meeting is in April 2026, followed by bi-monthly reviews during the year, and the final policy meeting is slated for early February 2027.

What the MPC reviews in each policy meeting

The MPC’s mandate includes taking decisions on interest rates and assessing broader financial conditions. As outlined in the announcement, the panel evaluates macroeconomic conditions and takes decisions on key policy tools, including interest rates and liquidity measures.

These decisions are watched closely because policy signals can influence the pricing of loans and deposits, bond-market expectations, and the valuation of interest-rate sensitive stocks.

Implications flagged in the release: repo rate at 5.25%

The material accompanying the calendar also points to the immediate policy context. It notes that with the repo rate maintained at 5.25%, borrowers are likely to benefit from stable lending rates.

It also states that banks are continuing to transmit the cumulative rate cuts implemented since February 2025. The statement does not quantify the cumulative cuts, but it links the current environment to the rate actions that began in February 2025.

GDP forecast snapshot mentioned alongside the update

The provided information includes a GDP forecast reference for FY26 at about 6.5%, described as unchanged. This growth estimate forms part of the macro backdrop that policy makers track when setting rates, alongside inflation and liquidity conditions.

The same data block shows other percentages, including ~6.8%, ~8.2%, ~7.4%, and ~6.9% (revised down), but the excerpt does not clearly label what each figure refers to. As a result, only the explicitly tagged FY26 GDP forecast of ~6.5% unchanged can be stated with clarity from the provided text.

How the calendar helps markets and borrowers

A published calendar reduces uncertainty around when the RBI will deliver formal guidance and policy decisions. For bond investors, MPC dates are key events because policy outcomes can affect yields and expectations for future rate paths.

For borrowers, the calendar matters because loan pricing often adjusts around policy reviews, especially where lending rates are linked to external benchmarks. The RBI note specifically points to the repo rate being maintained at 5.25% and the ongoing transmission of earlier cuts since February 2025, which frames why borrowers may see stable lending rates.

FY2025-26 schedule recap: six meetings from April 2025

The provided text also contains the previously released MPC calendar for FY2025-26. That schedule ran from April 2025 through February 2026, again with six meetings.

The calendar was described as six bi-monthly meetings that would be pivotal in deciding India’s monetary policy framework, including main interest rates and liquidity operations.

June 2025 policy communication details cited in the text

The excerpt includes operational details around the June 2025 meeting cycle. It states that the RBI MPC meeting began on June 4, 2025, and that Governor Sanjay Malhotra would present the decisions from the two-day MPC discussions on June 6, 2025 at 10:00 AM.

It also states the announcement would be streamed live on June 6, 2025 from 10:00 AM via the RBI’s official YouTube channel.

Additional background from FY2024-25 referenced in the excerpt

The text also references an earlier MPC meeting window in FY2024-25. It states the RBI MPC met from October 7 to October 9, 2024 and released its fourth bi-monthly monetary policy of FY2024-25, continuing to expect India’s real GDP to grow at 7.2% in FY25.

It adds that the October FY25 meeting was the RBI’s 51st MPC meeting and that the next MPC meeting was scheduled for December 4 to December 6, 2024.

Conclusion: what to track next

With the FY2026-27 calendar out, the next clear milestones for policy watchers are the six scheduled meeting windows from April 2026 through February 2027. The RBI’s note on the repo rate being maintained at 5.25% and the reference to ongoing transmission of rate cuts since February 2025 provide the immediate context in which these meetings will take place.