The Reserve Bank of India’s Monetary Policy Committee convenes August 3-5, and the overwhelming consensus is that the benchmark repo rate will stay parked at 5.25%, where it’s been since December 2025. India imports roughly 85% of its oil, which means global energy shocks hit the domestic economy like a freight train. Governor Sanjay Malhotra, who succeeded Shaktikanta Das in December 2024, has maintained a “neutral” monetary policy stance, keeping options open for potential adjustments depending on market conditions. Why global rate decisions matter for cryptoThe RBI hasn’t addressed cryptocurrencies or digital assets in connection with this meeting. The accompanying commentary from Governor Malhotra about the inflation outlook and growth trajectory will be parsed carefully for any shift in tone.