The Reserve Bank of India monetary policy meeting is scheduled from October 4, 2023 to October 6, 2023. The monetary policy meeting schedule was announced by the RBI on Friday. Governor Shaktikanta Das will oversee the meeting.
RBI Monetary Policy Committee meeting
It was on August 10 that the RBI kept the repo rate at 6.50 percent for the third time. This means that the interest rate on car and home loans will not change. The central bank considers the repo rate as the main interest rate for bank lending. This repo rate escalated by 25 basis points in the month of February this year.
The consumer price index rose to 4.81 percent in June, which is actually a three-month high. However, the Monetary Policy Committee kept the repo rate steady.
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RBI MPC meeting schedule
RBI’s MPC meeting will begin on October 4 and will end on October 6. Reserve Bank of India Governor Shaktikanta Das will make the announcement at 10 a.m. on Friday through a live stream of the MPC meeting.
The person behind the RBI MPC meeting
It is Governor Shaktikanta Das who will chair the MPC meeting. The Monetary Policy Committee consists of six members. In addition to the RBI Governor, Michael Debabrata Patra (Deputy RBI Governor) is part of the board.
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About RBI’s Monetary Policy Committee (MPC)
The Monetary Policy Committee (MPC) is established by the central government. The purpose of establishing the MPC is to determine the real interest rate (repo rate). The in-house team offers assistance and advice to the Governor of the Reserve Bank of India.
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Categories: Trends
Source: HIS Education