RBI's MPC to meet 6 times next fiscal, starting April

The Reserve Bank’s Monetary Policy Committee (MPC) will meet six times in the next financial year.

The Reserve Bank of India (RBI) rate-setting panel will be holding its first meeting of the next fiscal from April 3-6, the central bank said in a statement.

The RBI Governor announces the bi-monthly monetary policy after MPC’s deliberations on the prevailing domestic and economic situations. The meetings are held over three days.

According to the schedule released by the RBI on Friday, the first bi-monthly monetary policy of FY 2023-24 is scheduled for April 3, 5 and 6; and next will be held during June 6-8.

The third, fourth and fifth meetings have been scheduled for August 8-10, October 4-6, and December 6-8.

The sixth bi-monthly meeting of the MPC is scheduled to be held on February 6-8, 2024.

Headed by the Governor, the committee has two representatives from the central bank and three external members.

The central government has tasked the RBI to ensure that inflation remains at 4 per cent with a margin of 2 per cent on the either side.