The Monetary Policy Meeting by the Reserve Bank of India is scheduled from October 4, 2023, to October 6, 2023. The schedule of the monetary policy meeting was released by the RBI on Friday. Governor Shaktikanta Das will be supervising the meeting.
The RBI Monetary Policy Committee Meeting
It was on the 10th of August when the policy repo rate was kept steady at 6.50 percent by the RBI for the third time. This signifies that the rate of interest on car loans and housing is not going to change. The central bank considers the repo rate as the main policy rate to lend to banks. This repo rate has been escalated by 25 basis points in the month of February this year.
In the month of June, the Consumer Price Index inflation increased to 4.81 percent, which is actually a three-month high. However, the Monetary Policy Committee kept the repo rate steady.
ALSO READ: RBI Is Set To Discontinue I-CRR. Here's Everything You Need To Know!
Schedule of the RBI MPC Meeting
The RBI MPC Meeting will commence on October 4 and will cease on October 6. The governor of the Reserve Bank of India, Shaktikanta Das is going to announce on Friday at 10 a.m. through a live livestream of the MPC meeting.
The person behind the RBI MPC Meeting
It is Governor Shaktikanta Das who is going to conduct the MPC Meeting. The Monetary Policy Committee comprises six people. Along with the governor of RBI, Michael Debabrata Patra (RBI Deputy Governor) is also a part of the committee.
ALSO READ: What are the RBI’s revised bank locker rules? What are the key changes that the banks must follow?
Something about the RBI Monetary Policy Committee (MPC)
The Monetary Policy Committee (MPC) is set up by the central government. The intention of establishing the MPC is to set the right policy interest rate (repo rate). The internal team offers aid and advice to the Reserve Bank of India's governor.
Comments
All Comments (0)
Join the conversation