Reserve Bank of India Governor Sanjay Malhotra is announcing the Monetary Policy Committee (MPC) decision as the central bank adopts a cautious approach amid the West Asia conflict, which poses challenges for inflation and economic growth.

The six-member MPC started its three-day deliberations on Wednesday. Addressing an event on Wednesday, State Bank of India Chairman C S Setty said the economic growth process will stabilise if the RBI opts for a status quo in policy rates amid inflation challenges.

He said market expectations broadly point towards a pause in rates. Chaired by Malhotra, other MPC members are Nagesh Kumar (Director and Chief Executive, ISID), Saugata Bhattacharya (Economist), Ram Singh (Director, Delhi School of Economics), Poonam Gupta (Deputy Governor, RBI), and Indranil Bhattacharyya (Executive Director, RBI).