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RBI reschedules MPC meet due to administrative exigencies

Reserve Bank of India has rescheduled the meeting of its monetary policy committee, MPC.

The meeting that was earlier scheduled to be held between 2nd and 4th of next month, will now be held between 3rd and 5th August, with the policy statement being released on 5th of next month. According to an official statement, the RBI today said, the meeting has been rescheduled due to some administrative exigencies.

In order to tame inflation, the MPC increased the repo rate by 40 basis points in May and again by 50 basis points to 4.9 percent in the last month.

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