What changed

The Reserve Bank of India (RBI) has published its March 2026 monthly Bulletin. This issue features an article analyzing the current state of the Indian economy, including the impact of global events like the Middle East conflict and US trade investigations on market volatility. It notes the resilience of the Indian economy based on second advance GDP estimates for 2025-26 and signals economic activity gaining momentum in February.

Key economic indicators discussed include a rise in CPI headline inflation in February due to food and beverages, comfortable system liquidity, and an increase in the flow of financial resources to the commercial sector. The bulletin also confirms that India's foreign exchange reserves remain adequate to mitigate external shocks. The views expressed are those of the authors and not necessarily those of the RBI.

Source document (simplified)

Press Releases

| () | |
| Date : Mar 23, 2026 | |
| RBI Bulletin – March 2026 | |
| | Today, the Reserve Bank released the March 2026 issue of its monthly Bulletin. The Bulletin includes three speeches, one article and current statistics.

The article is on the State of the Economy.

State of the Economy

The conflict in Middle East and fresh trade investigations by the US have resulted in increased volatility in the global markets. The second advance estimates of GDP for 2025–26 indicate sustained resilience of the Indian economy. High frequency indicators signal towards economic activity gaining momentum in February. CPI headline inflation picked up in February on account of food and beverages. System liquidity has remained comfortable and the total flow of financial resources to the commercial sector rose, with a rise in financing from both the bank and non-bank sources. India’s foreign exchange reserves remain adequate to provide cushion against external shocks.

The views expressed in the Bulletin article are of the authors and do not represent the views of the Reserve Bank of India.

(Brij Raj)
Chief General Manager

Press Release: 2025-2026/2305 | | Today, the Reserve Bank released the March 2026 issue of its monthly Bulletin. The Bulletin includes three speeches, one article and current statistics.

The article is on the State of the Economy.

State of the Economy

The conflict in Middle East and fresh trade investigations by the US have resulted in increased volatility in the global markets. The second advance estimates of GDP for 2025–26 indicate sustained resilience of the Indian economy. High frequency indicators signal towards economic activity gaining momentum in February. CPI headline inflation picked up in February on account of food and beverages. System liquidity has remained comfortable and the total flow of financial resources to the commercial sector rose, with a rise in financing from both the bank and non-bank sources. India’s foreign exchange reserves remain adequate to provide cushion against external shocks.

The views expressed in the Bulletin article are of the authors and do not represent the views of the Reserve Bank of India.

(Brij Raj)
Chief General Manager

Press Release: 2025-2026/2305 |
| Today, the Reserve Bank released the March 2026 issue of its monthly Bulletin. The Bulletin includes three speeches, one article and current statistics.

The article is on the State of the Economy.

State of the Economy

The conflict in Middle East and fresh trade investigations by the US have resulted in increased volatility in the global markets. The second advance estimates of GDP for 2025–26 indicate sustained resilience of the Indian economy. High frequency indicators signal towards economic activity gaining momentum in February. CPI headline inflation picked up in February on account of food and beverages. System liquidity has remained comfortable and the total flow of financial resources to the commercial sector rose, with a rise in financing from both the bank and non-bank sources. India’s foreign exchange reserves remain adequate to provide cushion against external shocks.

The views expressed in the Bulletin article are of the authors and do not represent the views of the Reserve Bank of India.

(Brij Raj)
Chief General Manager

Press Release: 2025-2026/2305 | |