RBI MPC February 2026 meet: When and where to watch RBI governor Sanjay Malhotra speech LIVE

RBI MPC to announce outcome on Februray 6.

The Reserve Bank of India’s six-member Monetary Policy Committee (MPC), headed by Governor Sanjay Malhotra, will announce its policy decision on Friday.

The rate-setting panel began its deliberations on the bi-monthly monetary policy on Wednesday against the backdrop of the growth-focused Union Budget and the announcement of the India-US trade deal, which boosted market sentiment.

Where to watch the RBI Governor’s address

Governor Sanjay Malhotra will announce the policy decision at 10 am on Friday. The address will be streamed live on the RBI’s official website, YouTube channel and X account.

Live updates on the policy announcement will also be available on Moneycontrol.

The policy statement will be followed by a press conference around noon.

Members of the RBI MPC

The MPC is chaired by RBI Governor Sanjay Malhotra.

The other members are Nagesh Kumar, Director and Chief Executive, Institute for Studies in Industrial Development, New Delhi; Saugata Bhattacharya, economist, Mumbai; Ram Singh, Director, Delhi School of Economics; Poonam Gupta, RBI Deputy Governor; and Indranil Bhattacharyya, RBI Executive Director.

What to expect from the February MPC meeting

Experts said the RBI has already reduced the key short-term lending rate, the repo, by 125 basis points since February last year and may opt for a status quo, as there are no immediate concerns on either the growth or inflation front. However, some expect the central bank could consider one more rate cut to further lower borrowing costs.

An SBI research report said that since the last MPC meeting in December, a major policy development has been the EU-India and US-India trade deals, which led to a reduction in tariffs on India to 18 per cent from 50 per cent earlier. This places India among the lowest-tariff countries in Asia and is expected to support export competitiveness, it said.

The report noted that despite policy rate easing, government bond yields have shown persistent hardening in recent periods. It added that the choice of eligible securities could influence the effectiveness of open market operations even if the overall liquidity injection remains unchanged.

The RBI is therefore likely to maintain a status quo in the upcoming policy, the SBI study said.

A BofA Global Research note said the RBI’s rate-cutting cycle appears to be over for now. The trade deals are expected to improve growth certainty, and the momentum seen in high-frequency indicators is likely to continue, it said. The note added that while further rate cuts may be unlikely, the RBI is expected to continue managing liquidity to ensure effective transmission.

Deepak Agrawal, CIO – Debt, Kotak Mahindra AMC, said the upcoming policy, coming soon after the Union Budget, is set against a supportive domestic macroeconomic backdrop.

"With inflation well below the target, growth momentum intact, surplus system liquidity and reaffirmed fiscal consolidation, conditions favour policy stability," he said, adding that India’s growth dynamics, improving external position and record foreign exchange reserves provide comfort to the MPC to remain on pause.

The government has mandated the RBI to ensure consumer price index-based retail inflation remains at 4 percent, with a tolerance band of 2 percent on either side. Inflation has remained below 4 percent since February 2024 and stood at 1.33 percent in December. The retail inflation data for January will be released later this month.