New Delhi: The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) meetings every two months. The meeting discusses the improvement in the economy and also decides on interest rates. The next meeting of the committee headed by RBI Governor Shaktikanta Das will begin on August 4 and the results will be announced on August 6.
On the other hand, experts believe that the policy interest rate may remain at the current level in the bi-monthly review of the Central Monetary Policy Committee to be announced on Friday amid fears of a third wave of corona virus and rising inflation. In the last meeting held in June, the repo rate was kept at 4 percent and the reverse repo rate at 3.35 percent. It was also stable at a meeting held earlier in April. It may be recalled that the second wave of the corona has affected the Indian economy due to strict restrictions imposed in many parts of the country during April and May. So, this meeting is very important.
The six-member Monetary Policy Committee headed by RBI Governor Shaktikanta Das decides on policy rates. In this context, Deloitte India economist Rumki Majumdar said, RBI can adopt a policy of look and wait. There is limited scope for the revision of monetary policy. Improvements in some industries are likely to affect the cost of production of commodities, high commodity prices, and global price rise.
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