RBI begins three-day meet on monetary policy
The RBI's rate setting panel Tuesday started its 3-day deliberations for the first bi-monthly monetary policy of 2019-20 amid expectations of a cut in key lending rate by another 25 basis points to boost economic activities. The Reserve Bank of India (RBI) had reduced the repo rate by 25 basis points in February, after a gap of 18 months. A back-to-back cut in interest rate would provide relief to borrowers in the election season. The six-member Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das will announce the resolution of the meeting at around noon on Thursday. It would be the first bi-monthly monetary policy of 2019-20.
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