RBI’s 3rd meeting of Monetary Policy Committee to begin in Mumbai

The three-day meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India is scheduled to begin today in Mumbai. The meeting will continue till Friday. RBI Governor Sanjay Malhotra will announce the decisions of the MPC on interest rates on Friday morning. This will be the first meeting presided over by the newly appointed RBI Governor. Currently, the Bank has kept the repo rate unchanged at 6.5 per cent since February 2023. In the wake of the recent announcement of several initiatives in the Union Budget aimed at boosting consumption-led demand, experts predict that the RBI is likely to reduce the key interest rate by 25 basis points