RBI postpones monetary policy committee meet, new dates to be announced soon

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NEW DELHI: The Reserve Bank of India (RBI) on Monday announced that the monetary policy committee (MPC) meet which was to be held from September 29 has been rescheduled. The new dates will be of the MPC meet will be announced soon.
In an official statement, the RBI said: “The meeting of the monetary policy committee (MPC) during September 29, 30 and October 1, 2020 is being rescheduled. The dates of the MPC’s meeting will be announced shortly.”
The MPC, set up a few years ago, has six members including the RBI governor, deputy governor and an executive director. In addition, there are three members nominated by the government.
The committee was widely expected to opt for status quo on interest rates, as retail inflation remained elevated at 6.7 per cent in August. It has been tasked by the government to tame retail inflation based on consumer price index (CPI) at 4 per cent (+,-2 per cent).

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