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Informist, Friday, Feb. 6, 2026

 

NEW DELHI - Anitha Rangan, chief economist, RBL Bank, said the following on the Reserve Bank of India's sixth bi-monthly monetary policy for 2025-26 (Apr-Mar) detailed on Friday:

 

As expected, RBI held the policy rate unchanged at 5.25%, keeping the stance neutral. However, the surprise was all six members voting unanimously and somewhat that there were no announcement on liquidity.

 

The policy statement has caution all over, led by externalities. Also, MPC would wait for the new inflation and GDP series and give revised forecasts in April. Nevertheless, in the existing framework, they have revised their inflation estimates upward while firming up growth suggests that there is a long pause ahead. Growth is firm and inflation will return to 4-5% levels. But the read was the upside risks from externalities.

 

While RBI said that it would be pre-emptive on liquidity, no announcement of any structural measures is disappointing. While they acknowledge higher government securities yields not announcing measures or announcing measures "as and when needed" will only keep volatility active. In all, while the policy in terms of rates is batting for pause, no liquidity measures were announced in the policy and the RBI kept liquidity 'on tap' and proactive based on need.  End

 

Compiled by Krrity Ambey

Filed by Avishek Dutta

 

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