RBI MPC in FY 2023: There will be six meetings of RBI’s Monetary Policy Committee in the next financial year and the first meeting will start next week.
RBI MPC in FY 2023: In the next financial year 2022-23, there will be six meetings of the Monetary Policy Committee (MPC) of the central bank RBI and the first meeting will start next week. In the meeting of RBI Governor Shaktikanta Das, the committee will start the first meeting of the next financial year from 6 April and will continue till 8 April i.e. Friday next week. MPC announces monetary policies for two months based on domestic and economic conditions. This committee is headed by the RBI Governor. Apart from this, the committee consists of two representatives to the central bank and three external members. The central government has given the task of keeping inflation fixed at 4 percent to the RBI. In this, the RBI has a range of 2 percent up and down i.e. 2-6 percent inflation.
Digital currency: What is central bank digital currency, how will it work, understand the complete details related to it
Full schedule of MPC meeting for next financial year released
According to the schedule released by RBI today on Wednesday (March 30), the first MPC meeting for the next financial year is 6-8 April, second meeting 6-8 June, third 2-4 August, fourth 28-30 September and fifth meeting 5-7 September. Will be held on 2022. The last MPC meeting of the next financial year will be held on 6-8 February 2023 next year.
Rates are stable for ten consecutive times
RBI had cut 0.75 per cent (75 bps) in March and 0.40 per cent (40 bps) in May due to the Corona epidemic in the year 2020, about two years ago, and after that the repo rate fell to a historic low of 4 per cent. Since then RBI has not made any changes in the rates. Rates are stable for ten consecutive times. Repo rate is at 4 per cent and reverse repo rate is 3.35 per cent.
DA News: Big gift to central employees and pensioners, Modi government approves additional installment of dearness allowance-relief
What is repo rate and reverse repo rate
Repo rate is the rate at which loans are given by RBI to banks. Banks give loans to customers from this loan. The lower repo rate means that many types of loans from the bank will become cheaper. Whereas reverse repo rate does the opposite. Reverse repo rate is the rate at which interest is received from RBI on deposits from banks. Liquidity control is done in the market through reverse repo rate.
,