RBI Board Reviews Economic Landscape; Approves Budget for 2025-26

The Reserve Bank of India's central board reviewed the global and domestic economic landscape and approved the budget for 2025-26. The meeting was chaired by Governor Sanjay Malhotra. Recent monetary policy adjustments include a rate cut to 6.25%. The next policy meeting is set for April 7-9.

The central board of the Reserve Bank of India (RBI) met on Friday to review the evolving global and domestic economic landscape and endorsed the bank's budget for 2025-26. This was the 614th meeting, chaired by Governor Sanjay Malhotra.

The board analyzed developments in geopolitical and financial markets, assessing associated challenges. Future outlook for the 2024-25 fiscal year and budget plans for 2025-26 were major agenda points. Deputy Governors and board directors were present at this crucial meeting.

In a move reflecting RBI's strategy, the policy rate was recently reduced by 25 basis points to 6.25%, marking the first cut in five years. This follows a six-hike rate increase cycle, which paused in April 2023. The next Monetary Policy Committee meeting will occur April 7-9.

(With inputs from agencies.)