RBI MPC MEET 2024 Date: The Reserve Bank of India’s (RBI) next Monetary Policy Committee (MPC) meeting will begin from August 6 and the decision on interest rates will be announced on August 8.
The RBI conducts six bi-monthly meetings each financial year to discuss interest rates, money supply, inflation outlook and other macroeconomic indicators. The earlier MPC meetings in FY25 were held on April 3-5 and June 5-7.
Upcoming meetings this fiscal are scheduled for October 7-9, December 4-6, and February 5-7, 2025.
Governor Shaktikanta Das is likely to announce the committee’s decision on August 8 at around 10 AM. Stay tuned to Financial Express.com for minute-by-minute coverage and detailed analysis of the RBI decision.
Highlights of RBI June meeting
In the June MPC meeting, the benchmark repo rate was left unchanged at 6.5%. RBI has maintained status quo for rates since February 2023. The growth projection for FY25 was revised up to 7.2% from 7%, while the inflation forecast for FY25 was maintained at 4.5%. Das also highlighted ongoing concerns about food inflation.
Who are the RBI MPC members?
The June meeting marked the 49th session of the RBI’s MPC. The committee consists of six members: Das, Shashanka Bhide, Ashima Goyal, Jayanth R Varma, Rajiv Ranjan, and Michael Debabrata Patra, who have served since October 2020. Each member has one vote, and in the event of a tie, the governor casts the deciding vote.
The committee includes the RBI governor, a deputy governor (Patra), a nominee from the RBI Central Board (Ranjan), and three economists appointed by the central government: Goyal, Varma, and Bhide.
Who makes the RBI MPC announcement?
RBI Governor Shaktikanta Das, who heads the six-member MPC panel, delivers the policy details.
Where to check RBI MPC announcements?
To check announcements from the Reserve Bank of India (RBI) Monetary Policy Committee (MPC), you can refer to the following sources:
-RBI Official Website: The RBI publishes all MPC announcements, including press releases, policy statements, and minutes of meetings, on its official website. Visit the Monetary Policy section of the RBI website for the latest updates.
-RBI Press Releases: Regular updates and detailed press releases are available on the Press Release section of the RBI website. These releases provide comprehensive details about policy decisions and economic outlook.
-Financial News Websites and TV Channels: Major financial news platforms, including Financial Express.com, cover RBI MPC meetings and announcements extensively. The announcements are also broadcast on all news channels.
-RBI’s Social Media Channels: The RBI maintains official social media profiles on platforms like Twitter and LinkedIn, where they may share key updates and announcements related to MPC meetings.
-Government Websites and Portals: Websites such as the Ministry of Finance or economic research portals often reference or provide links to RBI MPC announcements.