RBI MPC to Meet 6 Times in FY24, Starting April: Dates, Schedule Below

By Malvika Gurung

Investing.com -- The Reserve Bank of India has announced that its Monetary Policy Committee (MPC) will meet six times in the upcoming financial year 2023-24, for setting the country’s benchmark lending rate, and discuss relevant prospects considering the ongoing global and domestic economic conditions.

The RBI MPC will conduct its first three-day meeting in April 2023, on April 3, 5 and 6.

The central bank’s benchmark rate-setting panel meets bi-monthly for deliberation of measures and prospects to keep a check on the country’s macroeconomic conditions and indicators.

Following April’s monetary meeting, RBI’s MPC is scheduled to conduct a meeting in June 2023, from June 6-8.

The next meeting is set for August 2023, on August 8, 9 and 10, followed by the rate-settling panel’s meeting in October, on Oct 4, 5 and 6, 2023.

The RBI MPC will meet next in December of the ongoing calendar year, on December 6, 7 and 8, 2023.

The last committee meeting will be held in February 2024, on dates Feb 6, 7 and 8 to discuss the repo rate-hiking stance and upcoming prospects of the Indian central bank.

In the current financial year 2022-23, RBI’s monetary policy committee hike the key benchmark rate six times, the last hike conducted in the committee’s last meeting for the financial year in Feb 2023, raising the repo rate by 25 basis points to rein in the sticky inflation.

Read Also: MPC Outcome: RBI Hikes Repo Rate by 25 Bps, Retains Accommodation Withdrawal Stance