RBI Mumbai/IBNS: The Reserve Bank of India (RBI) will announce monetary policy on October 9.
"The next meeting of the Monetary Policy Committee (MPC) is scheduled during October 7 to October 9, 2020," the RBI said in a release.
On Monday, the government appointed renowned economists Ashima Goyal, Jayanth R Varma and Shashanka Bhide as members of the rate-setting committe MPC of RBI.
Reports said the RBI was forced to delay the bi-monthly MPC committe meeting that was to be held from September 29 to October 1 as it required at least four members to proceed.
The three new members will have a five year term according to the RBI Act.
In 2016, the government shifted the role of setting rate from RBI Governor to the six-member MPC.
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