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RBI's reschedules Aug MPC meeting due to 'administrative exigencies' MPC Meeting

RBI's reschedules Aug MPC meeting due to 'administrative exigencies'

India Blooms News Service | @indiablooms | 21 Jul 2022, 06:15 pm

Mumbai: Reserve Bank of India  (RBI) Thursday said that the Monetary Policy Committee’s (MPC) meeting next month is rescheduled due to “administrative exigencies.”

The meeting has been postponed by a day and the MPC will now meet on August 3-5 instead of the previously scheduled August 2-4, said the RBI.

The rate-setting committee is expected to raise the key policy rate further, having raised the repo rate by 90 basis points in May and June meetings.

One bps equals one-hundredth of a percentage point.

The repo rate currently stands at 4.90 percent.