RBI Launches Three Key Surveys for Monetary Policy Inputs

The Reserve Bank of India (RBI) launched three household surveys on 9 July 2026 for use in monetary policy formulation. The surveys are the July 2026 round of the Inflation Expectations Survey of Households, the Rural Consumer Confidence Survey, and the Urban Consumer Confidence Survey.

Reserve Bank of India and Monetary Policy

The Reserve Bank of India is India’s central bank and was established on 1 April 1935 under the Reserve Bank of India Act, 1934. The Monetary Policy Committee (MPC) sets the policy repo rate and meets at regular intervals under the framework introduced by the amended RBI Act, 1934.

Inflation Expectations Survey of Households

The Inflation Expectations Survey of Households collects subjective views on price movements and inflation. The July 2026 round covers 19 cities and records household expectations on current inflation and near-term price changes.

Consumer Confidence Surveys

The Rural Consumer Confidence Survey gathers current perceptions and one-year-ahead expectations from households in rural and semi-urban areas across 31 States and Union Territories. The survey covers the general economic situation, employment, prices, income, and spending. The Urban Consumer Confidence Survey collects qualitative responses from households in 19 cities, including Ahmedabad, Bengaluru, Chennai, Delhi, and Mumbai. It covers the general economic situation, employment scenario, price level, household income, and spending.

Important Facts for Exams

• The Reserve Bank of India was established on 1 April 1935.
• The Monetary Policy Committee has six members under the RBI’s monetary policy framework.
• The policy repo rate is the main policy rate used by the RBI for liquidity and inflation management.
• Household surveys are used to capture expectations on inflation, income, employment, and spending.

Monetary Policy Committee Meeting

The next Monetary Policy Committee meeting is scheduled for 3 to 5 August 2026. Survey results are used before the meeting as inputs on inflation expectations and consumer sentiment.