The Reserve Bank of India's Monetary Policy Committee (MPC) unanimously kept the repo rate unchanged at 5.25% with a neutral stance at its June 2026 meeting, with external member Saugata Bhattacharya flagging mounting inflationary risks and calling for a risk management approach to monetary policy, according to minutes released by RBI on Thursday. In his statement, Bhattacharya said the balance of risks has "tilted towards embedding inflationary pressures" since the April 2026 review, even as the overall risk picture has not changed materially.