RBI MPC October Meeting 2026 Live Updates: Reserve Bank of India Governor Sanjay Malhotra on Wednesday said levying a "small fee" in the form of merchant discount rate (MDR) will not have a "major impact" on UPI transaction volumes.

"As of now, we do not see any drop in volumes. And I don't personally think that a small fee will have a major impact on the volumes," he told reporters at the central bank headquarters in Mumbai.

RBI MPC October Meeting 2026 Live Updates: On increase in repo rate by 25 basis points to 5.5%, economist Akash Jindal said, "The RBI Monetary Policy Committee has taken a very nice and practical decision of increasing the repo rate by 25 basis point. I also predicted a repo increase of 25 basis point. Now, the repo rate of increase of 25 basis point is fully justified seeing the level of inflation we are having. Already the inflation for August, CPI inflation for August is more than 4.8 pc. Now of course higher inflation is expected, so surely I think it's a good measure."

RBI MPC October Meeting 2026 Live Updates: Speaking on UPI MDR charges at a press conference, RBI Governor Sanjay Malhotra said, "A small fee will not have major impact on UPI transaction volumes."

RBI MPC October Meeting 2026 Live Updates: Banks' credit growth will continue to be strong going forward, said Reserve Bank of India Governor Sanjay Malhotra in a press conference.

RBI MPC October Meeting 2026 Live Updates: Prahlad Krishnamurthi, CEO of Probe42, said that the rate hike, change in stance and a sharper FY27 inflation forecast of 5.2% signal a sustained tightening phase, not a one-off correction.

"Tellingly, the RBI also raised its FY27 growth projection to 7.1%, a central bank acting from strength, not reacting to weakness. As borrowing turns costlier, underwriting quality will matter more than the cost of capital: lenders and corporates need sharper visibility into counterparty health, repayment behaviour and leverage. Banks and NBFCs enter this cycle well-capitalised, giving the system room to absorb the move," he said.

RBI MPC October Meeting 2026 Live Updates: The NIFTY50 is trading 0.41% lower at 22,683, while SENSEX is down 0.25% or 186 points to 72,878.

RBI MPC October Meeting 2026 Live Updates: The MPC document noted, "The system-level financial parameters related to capital adequacy, liquidity, asset quality and profitability of Scheduled Commercial Banks (SCBs) continue to remain robust. Similarly, the system-level parameters of NBFCs are also sound."

RBI MPC October Meeting 2026 Live Updates: Sandeep Agarwal, CEO & CIO, Modulus Alternatives on RBI MPC announcement, said, "The RBI’s 25 bps rate hike, taking the repo rate to 5.5%, marks an important shift in the interest-rate cycle. The move reflects the growing focus on inflation risks amid elevated crude prices, global yields and currency pressures, while India’s underlying growth momentum remains resilient."

"For credit markets, the impact will extend beyond the immediate increase in borrowing costs. A higher-rate environment places greater emphasis on the quality of cash flows, debt-servicing capacity and the strength of the underlying security. For private credit, this reinforces the importance of disciplined underwriting and structuring, with greater selectivity around businesses that have sound fundamentals and clear visibility on repayment," he added.

Furthermore, he said, "The more important signal from here will be the RBI’s forward guidance and whether this marks the beginning of a broader tightening cycle. For businesses and lenders alike, the ability to navigate the rate cycle with balance-sheet discipline will become increasingly important."

RBI MPC October Meeting 2026 Live Updates: Weak monsoon along with strong El Nino may impact upcoming Rabi season, said RBI Governor Sanjay Malhotra.

RBI MPC October Meeting 2026 Live Updates: The CPI inflation forecast for this year is 5.2%, RBI Governor Sanjay Malhotra said.

• Q2: 4.9%
• Q3: 6%
• Q4: 5.7%

RBI MPC October Meeting 2026 Live Updates: RBI Governor Sanjay Malhotra said that the real GDP growth for the current fiscal year is project at 7.1%, with Q2 at 7.2%, Q3 at 6.9% and Q4 at 6.8%.

The real GDP growth for Q2 FY28 is projected at 7.1%.

RBI MPC October Meeting 2026 Live Updates: Addressing media from the RBI headquarters in Mumbai, Governor Sanjay Malhotra said, "Economy has been strong, economic activity momentum remains broad-based."

RBI MPC October Meeting 2026 Live Updates: Governor Sanjay Malhotra said, "The sudden re-escalation of the West Asia conflict in September and the consequent hardening, as well as volatility in global crude prices, soured global economic sentiments and heightened financial market volatility. Although global growth remains resilient, it is projected to decelerate this year with respect to the previous year. Driven by escalating energy costs and rising food prices, global inflation is projected to increase sharply, prompting monetary policy tightening by major central banks across the world. Lingering trade uncertainty, rising bond yields in advanced economies, and an appreciating dollar are keeping global financial market sentiments nervous and fragile. Further tightening of global financial conditions, uncertainty about fair valuation of AI stocks, and an elusive resolution of the West Asia conflict pose significant downside risks."

RBI MPC October Meeting 2026 Live Updates: Sanjay Malhotra, Governor of the Reserve Bank of India (RBI), said that given the current conditions, rate cuts are off the table in the near term. "The policy action ahead can only be a rate hike or a pause," he said.

Monetary Policy Committee unanimously decided in favour of hike in policy interest rate, he said.

The last repo rate hike was in February 2023, when the RBI raised the rate by 0.25% to 6.50%. It kept the rate unchanged through 2023-24 before beginning its rate-cut cycle in 2025.

RBI MPC October Meeting 2026 Live Updates: Reserve Bank Governor Sanjay Malhotra addresses the media from the RBI Headquarters in Mumbai on resolutions taken during the three-day Monetary Policy Committee (MPC) meeting.

RBI MPC October Meeting 2026 Live Updates: The rupee depreciated 10 paise to 96.45 against the US dollar in early trade on Wednesday ahead of the Reserve Bank of India's monetary policy decision.

RBI MPC October Meeting 2026 Live Updates: The RBI has kept the repo rate unchanged at 5.25% in its last four policy reviews, after a cumulative 125 bps reduction during 2025.

RBI MPC October Meeting 2026 Live Updates: SBI Research has recommended a 25 basis points increase in October, followed by another 25 bps hike in December. Its research reports published in September explicitly called for 25 bps moves at both meetings.

RBI MPC October Meeting 2026 Live Updates: The repo rate is not the interest rate that consumers pay on their loans or earn on their deposits. However, it impacts the broader cost and availability of money in the financial system.

That means an Reserve Bank rate decision can eventually affect:

• Floating-rate loans and EMIs
• Fixed-deposit rates
• Personal and business borrowing costs
• Bond and other fixed-income investments
• Decisions around saving, borrowing and investing

RBI MPC October Meeting 2026 Live Updates: Goldman Sachs report said the August MPC minutes were materially more hawkish than the policy statement. Members acknowledged that food and fuel-driven inflation could generate second-round effects and indicated that broader, and more persistent price pressures would warrant policy action.

"We therefore bring forward our RBI forecast to 25 bps repo rate hikes in October and December 2026. The MPC may also shift its stance from 'neutral' to 'calibrated tightening' or 'withdrawal of accommodation'," it said.

RBI MPC October Meeting 2026 Live Updates: The last repo rate hike was in February 2023, when the Reserve Bank raised the rate by 0.25% to 6.50%. It kept the rate unchanged through 2023-24 before four rate cuts in 2025.

Currently, the RBI's policy repo rate stands at 5.25%.

RBI MPC October Meeting 2026 Live Updates: RBI Governor Sanjay Malhotra-led Monetary Policy Committee (MPC) is expected to hike short-term lending rate (repo), following four rate cuts totalling 125 basis points in 2025 and a prolonged pause thereafter.

RBI MPC October Meeting 2026 Live Updates: Reserve Bank Governor Sanjay Malhotra will announce the repo rate decision at 10 am on Wednesday after the conclusion of the three-day meeting of the Monetary Policy Committee (MPC).

RBI MPC October Meeting 2026 Live Updates: Reserve Bank of India Governor Sanjay Malhotra is all set to announce the bi-monthly monetary policy decision on Wednesday, October 7, 2026.