New Delhi: Reserve Bank of India (RBI) Governor Shaktikanta Das is all set to present his maiden monetary policy on Thursday.
The 6-member Monetary Policy Committee (MPC) headed by Das on Tuesday began 3-day meet to decide on key rates amid expectations it would change stance to neutral on low inflation but may not cut rates due to fiscal challenges and rising oil prices.
Deviating from the practice of releasing the resolution of MPC in afternoon, the Reserve Bank of India (RBI) will place it on its website at 11.45 am today. Earlier, when Urjit Patel took charge as the RBI Governor, he moved away from the usual practice of announcement at 11 am and presented the fourth bi-monthly monetary policy review at 2:30 pm after the MPC meeting.
The RBI maintained status quo on the key lending rate (repo) in its last three bi-monthly policy reviews after raising the rate twice by 25 basis points each in the fiscal. Currently, the repo rate stands at 6.50 percent.
Moving away from the usual practice of announcement at 11 am, the fourth bi-monthly monetary policy review would be made public at 2:30 pm after the MPC meeting.
Experts are of the opinion that given the price situation, panel is expected to keep rates unchanged to meet the targeted inflation of 4 percent with the margin of 2 percent on either side.
With PTI Inputs
