Monetary policy review

December 6, 201812 days 370
  • 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%.

Leave a Reply

Your email address will not be published. Required fields are marked *

9 − nine =