Highlights of RBI's April monetary policy

MUMBAI: Following are the highlights of the Reserve Bank's first bi-monthly monetary policy of fiscal 2026-27 announced by Governor Sanjay Malhotra on Wednesday:

* Benchmark interest rate (repo) remains unchanged at 5.25 pc;

* Monetary policy stance retained at neutral;

* FY27 GDP growth pegged at 6.9 pc compared to 7.6 pc in FY26;

* Inflation estimated at 4.6 pc in FY27;

* West Asia crisis likely to impact domestic economy;

* Elevated energy, other commodity prices a drag on domestic production in FY27;

* RBI to remain proactive, to ensure sufficient liquidity in banking system;

* As on Apr 3, India's forex reserves stood at USD 697.1 bn; adequate for 11-month of imports;

* Next meeting of RBI's rate-setting panel scheduled for June 3 to 5.