Mumbai: The Reserve Bank of India's Monetary Policy Committee has started its three-day meeting on Wednesday to deliberate on interest rates and analyze the state of the economy.
The MPC, consisting of six members, is responsible for determining India's benchmark interest rate, the repo rate.
The meeting, which began today, will conclude on April 5.
The decision made by the committee directly impacts borrowing costs for banks and indirectly influences loan interest rates for businesses and individuals.
RBI Governor Shaktikanta Das will announce the committee's decision on interest rates at 10 am on April 5.
This marks the first meeting of the RBI MPC in the new financial year FY2025, which commenced on April 1, and the second meeting of 2024 following the February Policy meeting held from February 6-8.
The Monetary Policy Committee regularly convenes a three-day meeting before announcing its decision at the end of this period.
The next RBI MPC meeting is scheduled for June 5.
It is mandated for the MPC to convene at least four times in a year.
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