Reconstituted RBI MPC with 3 new members to begin maiden meeting on Mon

Newly reconstituted Monetary Policy Committee of the Reserve Bank of India with three new appointed external members will commence its maiden meeting on Monday.The outcome of the three-day meeting of the MPC would be revealed by MPC Chairman RBI Governor Shaktikanta Das on next Wednesday (October 9).It is widely anticipated that the MPC will keep interest rate unchanged despite change in composition of external members.This would be tenth time in a row when the Reserve Bank of India (RBI) will maintain status quo as far as policy rate is concerned. The MPC last revised interest rate in February 2023, when it was hiked to 6.5 per cent.Apart from the chairman, the other internal members are RBI Deputy Governor in charge of monetary policy Michael Debabrata Patra and Executive Director monetary policy department of RBI Rajiv Ranjan.The government on Tuesday appointed Ram Singh, Saugata Bhattacharya and Nagesh Kumar as external members to the MPC.Singh, who is director of the .