RBI Announces Schedule For Monetary Policy Committee Meetings

New Delhi: The Reserve Bank of India (RBI) revealed the dates for its bi-monthly meetings for the new financial year. According to an official statement, the first meeting is scheduled from April 3 to April 5, 2024, followed by the next on June 5.

RBI MPC: Details

During these meetings, the six-member panel, which includes the governor, votes on a resolution typically on the third day. ()

The decision is announced by the governor on the same day after the vote. The first two days of the meeting involve discussions and presentations by experts to the panel. ()

RBI Second Bi-Monthly Policy

Following the June meeting, the second bi-monthly policy review will conclude on June 7. Subsequent meetings are slated for August, October, December, and February, each lasting three days.

Composition Of RBI Monetary Policy Committee

The committee, led by the governor, comprises three external members. Notably, the term of RBI Governor Shaktikanta Das is expected to end in December this year.

Policy Stance

The MPC has consistently maintained elevated interest rates and has upheld the stance of withdrawing accommodation in multiple reviews.

However, recent moderation in inflation, combined with the need to support growth, has raised expectations of a potential shift in stance to neutral or even a rate cut.

(With PTI Inputs)