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Monetary policy review
December 6 , 2018
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- The Six-member monetary policy committee (MPC) headed by the RBI Governor Urjit Patel voted unanimously to maintain status quo on all key policy rates in the fifth bi-monthly monetary policy review meeting.
- The Repo rate at 6.5 percent and the reverse repo rate at 6.25 percent remain same.
- Also, the RBI informed the marginal standing facility rate and the Bank Rate too remain at 6.75 percent.
- The committee comprises six members - three officials of the RBI and three members nominated by the Government of India.
- Decisions are taken by majority with the Governor having the casting vote in case of a tie.
- Current mandate of the committee is to maintain 4% annual inflation until March 31, 2021 with an upper tolerance of 6% and a lower tolerance of 2%.
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