RBI MPC meet commences today; may retain current repo rate

Reserve Bank Of India’s (RBI) three-day Monetary Policy Committee meet commenced today. It is expected that there will unanimity on retaining the current 6.5 per cent repo rate  The outcome of the meet will be announced by the RBI Governor Shaktikanta Das on October 6 and is being minutely watched by global financial regulators, stock market experts and financial gurus. The team includes Deputy Governor of bank in-charge of monetary policy Michael Debrata Patra, Executive Director of bank in-charge of monetary policy Rajiv Ranjan, Member of PM’s Economic Advisory Council Ashima Goyal, Advisor at National Council for Applied Economic Research Shashanka Bhide and Finance & Accounting Professor with Indian Institute of Management, Ahmedabad, Jayanth Varma. The six-member is being headed by RBI Governor himself.