Mumbai: The Reserve Bank of India (RBI) will announce the 2nd bi-monthly policy statement for the current financial year i.e. FY20 on 6th June. The 3-day meeting of the Monetary Policy Committee (MPC) headed by the Governor Shaktikanta Das will begin today at the RBI headquarters in Mumbai.
The timing of the MPC meeting is important, since it is the 1st MPC meeting after the release of the GDP data by the Central Statistical Office. In the Jan-March quarter India’s GDP has slowed to 5.8% indicating a slowdown in the economy. Also, the MCP will also consider the issue of rising Food Inflation, before finalizing its monetary policy.
RBI in its previous bi-monthly policy review announced in April, RBI had reduced the Repo rate by 25 basis points to 6.0% from 6.25% earlier.