RBI Sets MPC Meeting Dates For FY27, Giving Borrowers And Markets A Clear Policy Calendar

India’s rate-setting calendar for FY27 is now out, with 6 MPC meetings scheduled from April 2026 to February 2027, offering an early timeline for policy watchers.

The Monetary Policy Committee schedule for 2026-27 was released on March 23, 2026, setting out 6 policy meetings for the new financial year. The first review is lined up for April 6-8, 2026, while the last is due on February 3-5, 2027. 

For banks, lenders, bond traders and retail borrowers, this is the first formal policy roadmap for FY27. It does not announce a rate move, but it tells the market exactly when the next set of rate decisions, inflation signals and growth guidance will land.

What The New MPC Schedule Means For Borrowers And Banks?

The key issue is timing. With global crude risk, currency volatility and domestic inflation expectations still under watch, markets want clarity on when India’s central bank will review rates next. 
 

A published calendar helps lenders prepare transmission, lets treasury desks price expectations better, and gives borrowers a rough policy timeline. The schedule itself does not change EMIs. But each meeting can shape the direction of repo-linked loans, deposits and bond yields.

The full meeting calendar is shown below.
 

This schedule comes after the February policy review, where the MPC held the repo rate at 5.25% and retained the neutral stance. That made the calendar release more relevant because the next decision window is now fixed and publicly known.

FY27 Meeting Dates Announced From April 2026 To February 2027

The FY27 schedule gives a clean bi-monthly policy structure. It follows the February 2026 review where the MPC left the repo rate unchanged at 5.25%. In the same cycle, projections tracked by financial media showed FY26 GDP growth at 7.4% and inflation at 2.1%. 

Livemint’s policy coverage on February 6, 2026 highlighted the unchanged rate and the April 6-8, 2026 next meeting date. Economic Times, in its March 23, 2026 report on the new schedule, carried the full FY27 timeline. 

LoansJagat, in a consumer-facing report published on February 7, 2026, said a steady repo means near-term EMI relief is limited unless liquidity and lending transmission improve further.

A short data snapshot is below.
 

Taken together, the numbers show policy continuity, not surprise action. That is the message markets are taking into FY27. 

Previous Development On This

The build-up started in 2025, when the repo rate fell through a series of cuts. Business Standard reported on February 6, 2026 that the MPC had cut the repo rate by 25 bps in December 2025 after earlier pauses, while Moneycontrol commentary on February 4, 2026 said the final FY26 review came amid fiscal and global pressure points. 
 

By the February 2026 meeting, most market watchers were already expecting a pause. LoansJagat’s December 29, 2025 explainer and its February 4, 2026 report both pointed to a steady-rate view for borrowers.

Statements By Stakeholders

Governor Sanjay Malhotra said on February 6, 2026 that growth remained strong and inflation was under control, supporting a steady policy setting. 

Market commentary across Economic Times, Livemint and LoansJagat has broadly read the schedule as a visibility signal rather than a fresh policy turn. 

Conclusion

The FY27 MPC calendar gives the market dates, not decisions.
But in a rate-sensitive economy, dates themselves can shape expectations early.