RBI MPC schedule for FY25: First meeting set for April 3-5; know the full schedule for this fiscal year | India Business News


RBI MPC schedule for FY25: The reserve Bank of India (RBI) has announced its schedule for the meetings of the Monetary Policy Committee (MPC) for the financial year 2024-25 (FY25) starting from April 1, 2024. The central bank has said that the first monetary policy meeting for FY25 is scheduled to take place from April 3-5, 2024.
After this meeting, the rate-setting panel of the RBI will convene for its upcoming policy deliberations in June, August, October, December 2024 and February 2025.
The next meeting will be held from June 5-7 and the August meeting from June 6-8.
According to the RBI, in the latter half of the next financial year, the meetings have been scheduled on October 7-9, December 4-6 and February 5-7.
The MPC, comprising six members, including three RBI officials and three external members, sets the central bank's interest rates. After hiking rates by 250 basis points from May 2022 to February 2023, the MPC has kept the monetary policy unchanged. The final MPC session for FY25 is scheduled for February 5-7, 2025.
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Here are the dates of RBI's MPC meetings scheduled for FY25:

  • April 3-5, 2024
  • June 5-7, 2024
  • August 6-8, 2024
  • October 7-9, 2024
  • December 4-6, 2024
  • February 5-7, 2025

Recap of RBI MPC meeting in February 2024

The most recent MPC meeting for the financial year 2023-24 was held on February 6-8, 2024. During this meeting, RBI decided to retain it. benchmark interest rate ,repo rate) at 6.5 percent for the sixth consecutive session due to concerns regarding inflation.
Of the six members, five including Dr Michael Debabrata, Shashank Bhide, Ashima Goyal and Rajeev Ranjan voted in favor of keeping the policy rate unchanged, while Jayant R Verma advocated a cut of 25 basis points.

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