According to Section 45ZL of the Reserve Bank of India Act, 1934, the Reserve Bank shall publish, on the fourteenth day after every meeting of the Monetary Policy Committee, the minutes of the proceedings of the meeting which shall include the following, namely:
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Minutes of the Monetary Policy Committee Meeting, August 3 to 5, 2026
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The sixty second meeting of the Monetary Policy Committee (MPC), constituted under Section 45ZB of the Reserve Bank of India Act, 1934, was held during August 3 to 5, 2026.
Source: Reserve Bank of India (official). The summary and key points are quoted from that release; no AI is used. Check the source for the full text.
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Key points
Exam-ready takeaways
The Monetary Policy Committee (MPC) held its 62nd meeting from August 3 to 5, 2026, under the chairmanship of Shri Sanjay Malhotra, Governor, Reserve Bank of India.
In response to these incentives, as of July 31, 2026, a total of $36.725 billion has already been received under the FCNR(B) swap facility.
Based on current assessment of oil price futures, it would be reasonable to expect oil prices to average about US$90 per barrel during the year, close to the level assumed in the IMF’s WEO update of July 2026.
1 Brent crude prices, which averaged around US$67 per barrel during Jan-Feb 2026, have come under sharp upward pressure, settling in the $80- $90 per barrel range after spiking well above $100.
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