Reserve Bank's MPC to meet 6 times next fiscal; first meeting scheduled for April 6-8

Mumbai: The Reserve Bank's Monetary Policy Committee (MPC) will meet six times during the next financial year.

The Reserve Bank of India (RBI) Governor-headed rate setting panel will be holding its first meeting of the next fiscal from April 6-8.

The MPC announces the bi-monthly monetary policy after deliberations on the prevailing domestic and economic situations.

According to the schedule released by the RBI on Wednesday, the first bi-monthly monetary policy of 2022-23 is scheduled for April 6-8, and next will be held during June 6-8.

The third, fourth and fifth meetings have been scheduled for August 2-4, September 28-30, and December 5-7.

The sixth bi-monthly meeting of the MPC is scheduled to be held on February 6-8, 2023.

Headed by the governor, the committee has two representatives from the central bank and three external members.

The central government has tasked the RBI to ensure that inflation remains at 4 per cent with a margin of 2 per cent on the either side.