RBI Governor Sanjay Malhotra says the battle against inflation is won.

By Aniket Chakraborty July 26, 2025 Arrow INDIA NEWS Image Credit | @RBI | X

He warns that the “war continues” as price stability remains the priority.

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India’s retail inflation dropped to 2.10% in June 2025, a six-year low.

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This is the lowest year-on-year CPI inflation since January 2019.

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The RBI’s inflation target is 4%, with a tolerance band of ±2%.

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On June 6, the RBI cut the repo rate by 50 basis points, totaling 100 bps recently.

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The central bank has now shifted its monetary stance to “neutral.”

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Malhotra emphasizes growth and price stability as complementary goals.

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The next RBI MPC meeting and policy decisions are due on August 6.

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Analysts expect at least one more rate cut if inflation remains low.

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