The meeting of the Monetary Policy Committee (MPC) chaired by Reserve Bank of India (RBI) Governor Shaktikanta Das has started today and its results will be announced on October 8. The monetary policy committee of the central bank meets every two months. In this meeting, the reforms in the economy are discussed as well as interest rates are decided. Experts believe that amid fears of a third wave of Covid-19 and rising inflation, the central may maintain the policy interest rate at the current level in the bi-monthly review to be announced on Friday.
Experts claim – pressure on the central bank to keep inflation under control
Morgan Stanley says that while keeping interest rates unchanged, RBI will continue its soft stance in the upcoming meeting. In the current financial year, consumer price index-based inflation will be around five percent. SBI Chairman Dinesh Khara had recently predicted the interest rates to remain unchanged.
Interest rates are expected to remain stable for the eighth time in a row
The six-member Monetary Policy Committee headed by Central Bank Governor Shaktikanta Das decides on policy rates. In the last meeting held on August 8, the central bank had retained the repo rate for the seventh time in a row at four percent. That is, customers did not get relief on EMI or loan interest rates. The Marginal Standing Facility (MSF) rate is also stable at 4.25 percent. The reverse repo rate was also kept constant at 3.35 percent. Along with this, it was decided not to make any change in the bank rate. It is at 4.25 percent.
On the other hand, Deloitte India economist Rumki Mazumdar said the RBI is under pressure to change its stance as inflation is rising due to monetary policy in some industrialized countries.
After India, New Zealand, South Africa, England, and Afghanistan, now Australia has als
PM Modi: PM Modi added MIGA to Trump's 'Make America Great Again' slogan, know what it means
Prime Minister Narendra Modi said in a joint press conference at the White House on Thursday that
Khalistan advocate PM Justin Trudeau has suffered a major setback. Khalistan supporter NDP leader
An attempt was made to attack External Affairs Minister S Jaishankar in London. A Khalistan suppo
Coronavirus has again gained momentum in Delhi. In the last 24 hours, 15,754 new cases of coronav
(Budaun Double Murder Case) A few people were trying to give a communal form to the murder of two
Security has been beefed up in Srinagar ahead of the Supreme Court's decision on petitions challe
Amidst the tension with India, Bangladesh and Pakistan are getting closer. What is happening in B
Zhengshen Ou and Zhangjie, directors of India's popular mobile brand Vivo, fled India last year.
Two Muslim students from Malappuram, Kerala have surprised the people of the country by winning t
