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The Reserve Bank of India (RBI) on Thursday announced that its Monetary Policy Meeting has been rescheduled from 2-4 August to 3-5 August, 2022 due to administrative exigencies.
The MPC announces the bi-monthly monetary policy after deliberations on the prevailing domestic and economic situations.
“Due to administrative exigencies, it has been decided to reschedule the MPC meeting from August 2-4, 2022 to August 3-5, 2022," the central bank said in a statement.
“This announcement is being made under Section 45ZI(4) of the Reserve Bank of India Act, 1934," it read.
According to an earlier schedule released by the central bank, the first bi-monthly monetary policy of 2022-23 was scheduled for 6-8 April, and next on 6-8 June.
The third, fourth and fifth meetings have been scheduled for 2-4 August, 28-30 September, and 5-7 December.
The sixth bi-monthly meeting of the MPC is scheduled to be held on 6-8 February, 2023.
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% with a margin of 2% on the either side.