RBI’s monetary policy committee to meet Nov 3 over inflationary concerns

New Delhi: The Reserve Bank of India (RBI) Thursday announced that its Monetary Policy Committee (MPC) will have an off-cycle meeting November 3.

The MPC’s off-cycle meeting has been convened as the central bank has failed to curb inflation, which has remained beyond its tolerance limit of 2 to 6 per cent for the past nine months.

Also Read

Odisha draws over Rs 38,500 crore in investment intent on Day 1 of Hyderabad meet

22 hours ago

PM Modi holds talks with Oman Sultan on enhancing bilateral ties

1 day ago

Consumer Price Index (CPI) based retail inflation rose to 7.41 percent in September. Retail inflation has remained beyond RBI’s tolerance limit for the last three quarters.

Inflationary concerns had earlier forced the RBI’s rate setting panel to hike repo rate during a meeting held in May this year, which was also an off-cycle meeting.

IANS