The Monetary Policy Committee (MPC) minutes from its June 3–5 meeting flagged heightened risks from the West Asia conflict, volatile crude prices, disrupted supply chains, and a weaker monsoon outlook.

RBI MPC member Saugata Bhattacharya stated that energy prices are unlikely to return to pre-war levels and warned that rain deficit, commodity supply shocks, and global inflationary pressures will escalate inflation risks in India.

Saugata Bhattacharya, an RBI MPC member, stated that energy prices are unlikely to return to pre-conflict levels and that a projected rain deficit in India for 2026 will escalate inflation risks.

RBI Governor Sanjay Malhotra stated the Monetary Policy Committee (MPC) must monitor the inflation trajectory due to May fuel price revisions and amplified risks from a poor monsoon, while the repo rate was maintained at 5.25% on June 5.

RBI Governor Sanjay Malhotra stated that the Monetary Policy Committee (MPC) must monitor the inflation trajectory, citing revised fuel prices in May and risks from a poor monsoon due to El Nino.

RBI Governor Sanjay Malhotra stated the Monetary Policy Committee must be watchful of the inflation trajectory and voted for a status quo on the repo rate at 5.25%.

RBI Governor Sanjay Malhotra stated the Monetary Policy Committee (MPC) must be watchful of the inflation trajectory due to fuel price revisions and El Nino risks, while the MPC maintained the repo rate at 5.25%.

The Reserve Bank of India's Monetary Policy Committee (MPC) released minutes from its June 3–5 meeting, flagging heightened risks to India's economic outlook from the West Asia conflict, volatile crude prices, disrupted supply chains, and a weaker monsoon outlook.