RBI monetary policy announcement on October 9

RBI had postponed its MPC meeting due to delays in naming new members to the committee.

Reserve Bank of India (RBI) Governor Shaktikanta Das
NEW DELHI: A day after the government announced the appointment of three new members to the Monetary Policy Committee (MPC), the Reserve Bank of India (RBI) on Tuesday said its next policy meeting will take place from October 7-9.

Earlier the meeting, which was scheduled to be held from September 29 till October 1, had to be postponed due to delays in naming new members to the committee.

The three new members are: Indira Gandhi Institute of Development Research professor Ashima Goyal, Indian IIM-Ahmedabad professor Jayanth R. Varma, and National Council of Applied Economic Research's senior advisor Shashanka Bhide.

They will join RBI governor Shaktikanta Das, Deputy Governor Michael Patra and Executive Director Mridul Saggar in the MPC that decides the policy rate required to achieve inflation target.

The market expects the committee to maintain the status quo as inflation is above the tolerance level of RBI, while the economic condition is showing little signs of a swift recovery.




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