Reserve Bank of India Governor Sanjay Malhotra said it is too early to discuss
rate hikes given current geopolitical uncertainty and that future decisions will
depend on incoming data. He noted that had the bank been confident of hikes in
the coming months it would already have shifted policy from neutral to
tightening, but it has not because uncertainty remains high. His comments come
as US‑Iran peace talks have driven oil sharply lower, a tailwind for India,
which imports about 90% of its oil. Malhotra added the ceasefire is fragile and
full oil supply restoration will take time; upside risks to oil have eased but
the RBI will closely monitor oil’s trajectory.
