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The Reserve Bank of India (RBI) has released the schedule for the monetary policy meetings for the financial year 2024-25.
The first meeting of the year is scheduled for April 3-5, 2024. The other five meetings are scheduled for June 5-7, 2024; August 6-8, 2024; October 7-9, 2024; December 4-6, 2024; and February 5-7, 2025. The RBI typically conducts six bimonthly meetings in a financial year, where it deliberates interest rates, money supply, inflation outlook, and various macroeconomic indicators. The Monetary Policy Committee of the Reserve Bank of India (RBI) in its February review meeting unanimously decided to keep the policy repo rate unchanged at 6.5 per cent, thus maintaining status quo for the sixth straight time. The repo rate is the rate of interest at which RBI lends to other banks. Deliberating the policy statement on Friday morning after a three-day review meeting, RBI Governor Shaktikanta Das attributed comfortable inflation and firm growth dynamics as the reasons behind maintaining the status quo the policy stance. Retail inflation in India though, is in RBI's 2-6 per cent comfort level but is above the ideal 4 per cent scenario. In February, it was 5.09 per cent. (ANI)
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