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The Monetary Policy Committee of the Reserve Bank of India after a detailed assessment is announcing the policy repo rates on April 5.
The central banking authority of India has kept the repo rate unchanged for the last six consecutive MPC meetings. Monetary Policy Committee was constituted under the Reserve Bank of India Act, 1934. MPC is a six-member committee comprising three members from RBI including Governor Shaktikanta Das and three members appointed by the Central government.
The two-day review meeting of the MPC that commenced on April 3 concludes today. The RBI had maintained the status quo on policy rates and stances in its last review, which was held in February 2024. The decision however was not unanimous and one member has recommended a rate cut of 25 basis points and policy change stand to neutral.
(With agency inputs)
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