Reserve Bank of India (RBI) released minutes of sixty second meeting of the Monetary Policy Committee (MPC) held during August 3 to 5, 2026 today. MPC member Nagesh Kumar noted that the Indian economy has displayed remarkable resilience in the face of challenging headwinds stemming from the ongoing conflict in West Asia, especially the volatility in crude oil prices, trade policy uncertainties, and agricultural risks arising from El Niño affecting the monsoons. The concerns arising from the West Asia conflict and the blockade of the Strait of Hormuz have not receded, even as India has made efforts to deal with the situation by diversifying the sources of supply. Trade policy uncertainties have been aggravated.
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