RBI Governor Malhotra also spoke about the falling levels of rupee. He said that the RBI doesn't target any specific levels or band and it only intervenes to stem excessive volatility.

This is the first meeting of the panel under the leadership of RBI Governor Sanjay Malhotra, who assumed office in December 2024 following the end of Shaktikanta Das' tenure.

The RBI Governor Sanjay Malhotra delivered the first interest rate cut in nearly five years. The RBI MPC reduced the repo rate cut to 6.25% from 6.50%.