The final MPC meeting of the central bank for the fiscal year 2023–2024 took place on February 6–8, 2024. Citing inflationary concerns, the RBI opted to maintain the benchmark interest rate (repo rate) at 6.5 percent at its most recent bi-monthly meeting on February 8th, for the sixth consecutive meeting.
Jayanth R. Varma voted to lower the policy repo rate by 25 basis points, while five members—Dr. Michael Debabrata, Shashanka Bhide, Ashima Goyal, and Rajiv Ranjan—voted to maintain the status quo on the policy rate for the sixth time in a row.
The monetary policy committee (MPC) calendar for the upcoming fiscal year 2024–25 (FY25), which begins on April 1, 2024, has been issued by the Reserve Bank of India (RBI). The central bank said in its calendar that April 3-5, 2024 will be the dates of the first policy meeting for FY25.
The following policy sessions of the RBI’s rate-setting panel are scheduled for June, August, October, December, and February of 2025. The final meeting of the MPC for FY25 will take place on February 5–7, 2024.
The dates for the RBI’s MPC meetings in FY25 are as follows:
–April 3-5, 2024
–June 5-7, 2024
–August 6-8, 2024
–October 7-9, 2024
–December 4-6, 2024
–February 5-7, 2025.
