Monetary Policy

The Reserve Bank has today released data on Money Supply for the fortnight ended September 19, 2025.

Tenor 2-day Notified Amount (in ₹ crore) 1,00,000 Total amount of bids received (in ₹ crore) 7,370 Amount allotted (in ₹ crore) 7,370 Cut off Rate (%) 5.51 Weighted Average Rate (%) 5.51 Partial Allotment Percentage of bids received at cut off rate (%) NA

This Statement sets out various developmental and regulatory policy measures relating to (i) Regulations; (ii) Foreign Exchange Management; (iii) Consumer Protection and (iv) Financial Markets.

Namaskar. Greetings on the last day of Navaratri, and my best wishes for a Happy Dussehra and Gandhi Jayanti tomorrow. 2. Since the August policy meeting, significant developments on the domestic front amidst a fast-changing global economic landscape have altered the narrative on growth-inflation dynamics in India. Buoyed by a good monsoon, the Indian economy continues to exhibit strength by registering a higher growth in Q1:2025-26. At the same time, there has been a considerable moderation in headline inflation. The rationalisation of the goods and services tax (GST) rates is likely to have a sobering impact on inflation while stimulating consumption and growth. Tariffs on the other hand will moderate exports.

Monetary Policy Decisions The Monetary Policy Committee (MPC) held its 57th meeting from September 29 to October 1, 2025, under the chairmanship of Shri Sanjay Malhotra, Governor, Reserve Bank of India. The MPC members Dr. Nagesh Kumar, Shri Saugata Bhattacharya, Prof. Ram Singh, Dr. Poonam Gupta and Shri Indranil Bhattacharyya attended the meeting.

The Reserve Bank has today released data on Reserve Money for the week ended September 26, 2025.

The report of the Internal Working Group (IWG) to review the Liquidity Management Framework was placed on the RBI website on August 6, 2025, and comments on the same were invited from stakeholders and members of the public by August 29, 2025. The Reserve Bank has received comments from various stakeholders.

Tenor 1-day Notified Amount (in ₹ crore) 2,00,000 Total amount of bids received (in ₹ crore) 85,197 Amount allotted (in ₹ crore) 85,197 Cut off Rate (%) 5.51 Weighted Average Rate (%) 5.51 Partial Allotment Percentage of bids received at cut off rate (%) NA

On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on Tuesday, September 30, 2025, as under:

Tenor 4-day Notified Amount (in ₹ crore) 1,00,000 Total amount of bids received (in ₹ crore) 90,931 Amount allotted (in ₹ crore) 90,931 Cut off Rate (%) 5.51 Weighted Average Rate (%) 5.51 Partial Allotment Percentage of bids received at cut off rate (%) NA