RBI MPC policy review: Governor's address at 10 am tomorrow

Mumbai: The Reserve Bank of India (RBI) said on Thursday Monetary Policy Committee’s (MPC) decision will be announced by Governor Shaktikanta Das at 10 am on Friday.

“Watch out for Bi-monthly Monetary Policy address by RBI Governor @DasShaktikanta at 10:00am on October 09, 2020 #rbitoday #rbigovernor,” RBI said in a tweet.

The recently-constituted MPC began its three-day deliberations on Wednesday, and expectations are running high that the central bank will maintain status quo on the benchmark lending rate.

Earlier this week, the government appointed three eminent economists Ashima Goyal, Jayanth R Varma and Shashanka Bhide as members of the MPC.


The new members replace Chetan Ghate, Pami Dua, and Ravindra Dholakia. They were appointed on the panel for four years on September 29, 2016. As per the RBI Act, the external members can hold office for a period of four years and are not eligible for re-appointment.

Within a day of the government appointing three independent members of the MPC, RBI announced that the rate-setting panel will meet from October 7 to 9 for the bi-monthly review of the monetary policy.

The meeting of the six-member MPC, earlier slated for September 29 to October 1, was rescheduled as the appointment of independent members was delayed. The MPC must have a quorum of four.

According to a Reuters poll conducted ahead of the originally scheduled MPC meeting, all 66 respondents said they expect the repo rate to remain unchanged at 4.0 per cent and a large majority saw no cuts until the January-March quarter.