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    <title>Minutes of the Monetary Policy Committee Meeting, August 4 to 6, 2025 [Under Section 45ZL of the Reserve Bank of India Act, 1934]</title>
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    <description>The MPC minutes record the publication mandated under Section 45ZL and the unanimous operative decision to maintain the policy repo rate and associated facility rates while retaining a neutral stance. The Committee assessed resilient domestic growth supported by rural demand and government capex, revised CPI inflation down to 3.1 per cent for the year driven by food disinflation, noted core inflation around 4 per cent and flagged external tariff-related risks, and justified the pause to allow further transmission of prior easing and to preserve policy flexibility.</description>
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      <description>The MPC minutes record the publication mandated under Section 45ZL and the unanimous operative decision to maintain the policy repo rate and associated facility rates while retaining a neutral stance. The Committee assessed resilient domestic growth supported by rural demand and government capex, revised CPI inflation down to 3.1 per cent for the year driven by food disinflation, noted core inflation around 4 per cent and flagged external tariff-related risks, and justified the pause to allow further transmission of prior easing and to preserve policy flexibility.</description>
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