RBI meeting to be held for three days from today
RBI meeting to be held for three days from today
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The monetary policy committee meeting of RBI has started today. The Reserve Bank postponed the meeting of the Monetary Policy Committee on 28 September. The meeting was postponed due to the delay in the appointment of independent members to the committee. But now three members have been appointed by the government in MPC.

The central bank governor, Shaktikanta Das, said in September that there could be changes in monetary policies as per the requirement and there was scope for a cut in interest rates as well. Assocham Secretary General Deepak Sood had said that the RBI should continue its process of reducing interest rate. Union Bank MD-CEO Rajkiran Rai said, "It does not seem possible to reduce the repo under the pressure of inflation. Most experts believe that the expectation of a cut in the repo rate is low". Market analysts say that this first meeting after the GDP record has gone down in the first quarter is considered very important.

In the 24th meeting of MPC held in August, the RBI did not make any change in the repo rate. It remains at four percent and the reverse repo rate has also been kept constant at 3.35 percent. If the repo rate is reduced in this meeting, the customer will get relief in EMI. On Tuesday, the Reserve Bank said in a statement that "the next meeting of the Monetary Policy Committee has been scheduled from October 7 to 9, 2020". During this time, many important decisions can be taken.

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