The RBI’s rate-setting panel preferred to keep the powder dry, maintaining a status quo on the policy repo rate , amid benign inflation conditions and likelihood of risks to growth emanating from prolonged geopolitical tensions, tariff related developments and volatility in global financial markets.

Even as the October 1 vote by the six-member monetary policy committee (MPC) to keep the repo rate unchanged at 5.50 per cent was unanimous , the central bank announced a host of measures to boost Bank credit growth, which has slowed in FY26 so far.

The decision to continue with the “neutral” the monetary policy stance was approved by MPC by a majority of 4-2.

The RBI also upped the FY26 GDP growth projection by 30 basis points to 6.8 per cent (earlier estimate: 6.5 per cent) and cut t

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