RBI`s monetary policy committee to meet on November 3 over inflationary concerns
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
The Reserve Bank of India (RBI) on Thursday announced that its Monetary Policy Committee (MPC) will have an off-cycle meeting on November 3.
The MPC's off-cycle meeting has been convened as the central bank has failed to curb inflation, which has remained beyond its tolerance limit of 2 to 6 per cent for the past nine months.
Consumer Price Index (CPI) based retail inflation rose to 7.41 percent in September. Retail inflation has remained beyond RBI's tolerance limit for the last three quarters.
Inflationary concerns had earlier forced the RBI's rate setting panel to hike repo rate during a meeting held in May this year, which was also an off-cycle meeting.
