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RBI

Reserve Bank of India

RBIIndia·INR

Repo rate

6.00%

as of 2026-04-09

Next meeting

Jun 3-5

T-3d

The Reserve Bank of India is India's central bank and conducts monetary policy under a flexible inflation-targeting framework, with a primary objective of price stability while keeping in mind the objective of growth. The six-member Monetary Policy Committee meets bi-monthly (six times a year) to set the policy repo rate.

Meeting Schedule (2026)

Feb 4-6Apr 6-8Jun 3-5Aug 3-5Oct 5-7Dec 2-4

Policy decisions are announced on the dates above. Source: official central bank schedules.

Primary Currency
INR
Cross-firm view, consensus targets, and live rate

Repo rate

6.00%

As of 2026-04-09

INR 2026 consensus

86.50

median of 18 banks

Next macro event

Manufacturing Production YoY (Apr)

Jun 1

Upcoming Macro Calendar — India

Next 8 high+medium impact events (next 30d)

DateEventCountryImpactConsensusPrevious
Mon, Jun 1Manufacturing Production YoY (Apr)INMed3.7%4.3%
Mon, Jun 1Industrial Production YoY (Apr)INMed3.8%4.1%
Fri, Jun 5Interest Rate DecisionINMed5.25%5.25%
Fri, Jun 5RBI Interest Rate DecisionINMed5.25%5.25%
Fri, Jun 5Gross Domestic Product YoY (Q4)INMed7.3%7.8%
Fri, Jun 5GDP Growth Rate YoY (Q1)INHigh7.3%7.8%
Fri, Jun 12Inflation Rate YoY (May)INMed3.48%
Tue, Jun 23HSBC Manufacturing PMI (Jun)INMed

Recent Commentary on RBI

Updated 13 days ago

5 most-recent items prefer LLM synthesis where available

BIS SPEECHES

Poonam Gupta: Prosperous states for a prosperous India

The desk posits that India's economic growth is increasingly reliant on the prosperity of its individual states, as articulated by Dr. Poonam Gupta, Deputy Governor of the Reserve Bank of India,…

May 12, 2026central-bank

Bank Consensus on INR

Aggregated 2026 year-end target across 18 sell-side firms

Median vs spot: +0.0%

Median
86.50
Spread
10.50
Top Bull
ING94.00
Top Bear
UBS83.50

Firm Coverage

Reports referencing RBI across covered research desks

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FX BANK FORECAST · COVERAGE

Institutional FX coverage in your inbox

Aggregated year-end forecasts, scenario shifts, and curated analyst notes from eight institutional desks. No promotion.