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An additional meeting of the Reserve Bank of India’s Monetary Policy Committee has been scheduled for 3 November. The meeting with its rate-setting panel could be held to discuss RBI’s reply to the government, explaining the reasons of its failure to contain inflation up to 6%.
“Under the provisions of Section 45ZN of the Reserve Bank of India (RBI) Act 1934, read along with the Gazette notifications S.O.2215(E) dated June 27, 2016 and S.O.1422(E) dated March 31, 2021 and the Regulation 7 of the RBI Monetary Policy Committee (MPC) and Monetary Policy Process Regulation, 2016, an additional meeting of the MPC is being scheduled on November 3, 2022,” the RBI said.
The RB’s rate-setting panel last met on 28 – 30 September, 2022 and was slated to meet for the last time this calendar year on 5 – 7 December.
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