RBI MPC schedule for FY25: The Reserve Bank of India (RBI) has announced its schedule for the Monetary Policy Committee (MPC) meetings for the fiscal year 2024-25 (FY25), commencing from April 1, 2024.
The central bank has said that the first monetary policy meeting for FY25 is scheduled to take place from April 3-5, 2024.
Subsequent to this meeting, the RBI’s rate-setting panel will convene for its subsequent policy deliberations in June, August, October, December of 2024 and February 2025.
The next meeting will happen from June 5-7, and the August meeting from the 6th to the 8th.
In the latter part of the next financial year, meetings are set for October 7-9, December 4-6, and February 5-7, according to the RBI.
The MPC, with six members including three RBI officials and three external members, sets the central bank’s interest rates. After increasing rates by 250 basis points from May 2022 to February 2023, the MPC has kept monetary policy unchanged. The final MPC session for FY25 is slated for February 5-7, 2025.
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Here are the dates for the RBI’s MPC meetings scheduled for FY25:
- April 3-5, 2024
- June 5-7, 2024
- August 6-8, 2024
- October 7-9, 2024
- December 4-6, 2024
- February 5-7, 2025
Recap of RBI’s MPC meeting in February 2024
The most recent MPC meeting for the fiscal year 2023-24 was held from February 6-8, 2024. During this meeting, the RBI decided to maintain the benchmark interest rate (repo rate) at 6.5 percent for the sixth consecutive session due to concerns regarding inflation.Of the six members, five, including Dr. Michael Debabrata, Shashanka Bhide, Ashima Goyal, and Rajiv Ranjan, voted in favor of maintaining the policy rate unchanged, while Jayanth R Varma advocated for a reduction of 25 basis points.
