The month begins with the RBI Monetary Policy Committee (MPC) meeting scheduled for June 3–5, which sets the tone for interest rates across the financial sector. According to a Reuters poll, the Central bank will keep its key interest rate unchanged at 5.25% in June, though most economists now expect at least one increase by year-end due to risks from high oil prices and pressure on the rupee from weak capital inflows. Even if policy rates remain unchanged, market participants will closely watch the RBI's commentary on inflation, economic growth and liquidity conditions, which can shape expectations around borrowing costs and deposit rates in the months ahead. RBI Governor Sanjay Malhotra will announce the MPC's decision on Friday, June 5, following the deliberations. At its previous meeting in April, the committee had decided to keep the key benchmark interest rates unchanged at 5.25% while maintaining a 'neutral' stance due to the heightened geopolitical uncertainties in West Asia. The MPC of India is a six-member body tasked with fixing the benchmark policy rate (repo rate) to contain inflation.
June 15 brings the first advance tax deadline for FY 2026-27, which is especially important for freelancers, traders, and anyone earning beyond a fixed salary. By this date, specified individuals must pay at least 15% of their total estimated advance tax liability for the financial year if their total tax liability after tax deducted at source (TDS) exceeds ₹10,000. People aged 60 years or more who do not have income from any business or profession during the financial year are exempt from paying advance tax. This deadline marks a critical milestone for tax planning, as it requires taxpayers to estimate and pay taxes on income earned during the first half of the financial year.
Around the same time as the advance tax deadline, employers are legally required to issue Form 16 for salaried individuals on or before June 15th of the assessment year following the financial year in which taxes were deducted. This document covers salary details, TDS deductions, and tax calculations in one place and is crucial for tax filing. It is generally advisable to wait until mid-June for filing income tax returns, as this form serves as a comprehensive record for taxpayers and employers to verify income and tax deductions.
Aside from the US Federal Reserve and the RBI, several other central banks including the Bank of Japan, European Central Bank, Bank of England, and the Swiss National Bank are scheduled to meet in June to discuss and decide on interest rates. The US Federal Reserve's FOMC meeting is scheduled to be held from June 16 to 17, with market participants betting on the Fed keeping interest rates unchanged, according to the CME Group's Fed Watch. However, the Fed's preferred inflation gauge, the Personal Consumption Expenditures Index, jumped 3.8% in April as the West Asia crisis has led to a surge in crude oil prices. According to a J.P. Morgan report, analysts expect the Federal Reserve to hold interest rates steady for the rest of 2026, with a likely 25 basis point hike in the third quarter of 2027.
Reliance Industries (RIL) is slated to host its 49th annual general meeting on Friday, June 19, 2026, with Friday, June 12, 2026, as the cut-off date for determining eligible voters. The conglomerate also announced Friday, June 5, 2026, as the record date to determine members eligible to receive the dividend for the 2025-26 financial year, following the board's recommendation of a ₹6 per equity share dividend for FY26. Wipro set June 5, 2026, as the record date for shareholder eligibility for its planned largest-ever ₹15,000 crore share buyback at ₹250 per unit. The company's board approved the buyback of up to 60 crore fully paid-up equity shares for an aggregate amount not exceeding ₹15,000 crore at ₹250 per equity share. In May, petrol and diesel saw multiple hikes with the government increasing prices by up to ₹2.87 per litre on May 25, with petrol prices in Delhi crossing the ₹100-a-litre mark and diesel climbing to ₹95.20 per litre. The Iran-US conflict, which began on February 28, has entered its fourth month, with the United States and Iran reaching a tentative memorandum of understanding that would extend the current ceasefire by 60 days, though the proposed agreement awaits final approval from President Trump.
