MUMBAI, August 3 — The Reserve Bank of India (RBI) commenced its three-day Monetary Policy Committee (MPC) meeting on Monday to review the national economic situation and decide on policy repo rates.
Led by RBI Governor Shaktikanta Das, the six-member committee is examining inflation trends, retail consumer price index (CPI) figures, and global economic conditions. Financial analysts expect the committee to focus on balancing growth recovery with inflation control before announcing its policy decision on Wednesday.
The MPC meets at least four times a year to determine the benchmark interest rate (repo rate) necessary to maintain price stability while supporting economic growth.
Banking and economy current affairs are highly tested in IBPS, SBI, and SSC exams. Candidates should note that the MPC consists of six members (three from RBI and three appointed by the Central Government) and that the repo rate is the rate at which RBI lends money to commercial banks.