The Reserve Bank of India's Monetary Policy Committee (MPC) commenced a three-day meeting on Monday to discuss the bi-monthly monetary policy, with expectations of maintaining the benchmark lending rate. This decision comes amid rising inflation concerns linked to the ongoing crisis in West Asia. The MPC, chaired by Governor Sanjay Malhotra, is facing pressures from geopolitical tensions and a significant increase in crude oil prices, which have surged to over $100 per barrel since the conflict began in late February. Experts estimate that each $10 increase in crude prices can raise inflation by up to 0.60%. Additionally, the Indian rupee has depreciated by over 4%, contributing to import inflation. Retail inflation has recently increased to 3.21% in February from 2.74% in January, approaching the Reserve Bank's medium-term target of 4%. The MPC is expected to adopt a cautious approach, monitoring various economic factors, including liquidity conditions and financial market stability, while maintaining flexibility in its policy stance.