PREVIOUS
✖
Monetary Policy Statement – RBI
February 9 , 2018
2532 days
1515
0
- The Reserve Bank of India's Monetary Policy Committee presented its last bi-monthly policy review for the current fiscal year.
- The repo rate was kept unchanged at 6 percent.
- The reverse repo rate under the LAF (liquidity adjustment facility) remains at 5.75 percent, and the marginal standing facility (MSF) rate and the bank rate at 6.25 percent.
- The policy is determined on the basis of global uncertainty and inflation.
- Monetary Policy Committee - It is a committee of the “Reserve Bank of India” that is responsible for fixing the benchmark interest rate in India.
- It usually meets once in 2 months and is mandated to meet at least 4 times a year and it publishes its decisions after each such meeting.
- The committee comprises six members – Three officials of the Reserve Bank of India and three external members nominated by the Government of India.
- The Governor of RBI is the ex-officio chairperson of the committee and has a casting vote while taking decisions that are tied.
- The current mandate of the MPC is to maintain inflation within the targeted range of 4% (+2% or -2%) which is to be adhered till March 2021.
- The committee was created in 2016 to bring transparency and accountability in fixing India's Monetary Policy.
Leave a Reply
Your Comment is awaiting moderation.