RBI’s Monetary Policy Committee Schedule for Financial Year 2024-25

The Reserve Bank of India (RBI) has set its monetary policy committee (MPC) schedule for the upcoming financial year 2024-25, with the first policy meeting scheduled from April 3-5, 2024. The central bank will hold subsequent meetings in June, August, October, December, and February 2025, with the last MPC meeting for FY25 taking place from February 5-7, 2025.

At the last MPC meeting in February 2024, the RBI decided to keep the benchmark interest rate unchanged at 6.5 percent for the sixth consecutive time due to inflationary concerns. The committee projected retail inflation at 5.4 percent for 2023-24, with expectations for a gradual decline in inflation in the following fiscal year.

The RBI Governor, Shaktikanta Das, emphasized the need for a disinflationary monetary policy to support growth while aligning with the inflation target. The committee aims to withdraw accommodation gradually to ensure inflation meets the desired levels.

Overall, the MPC’s decisions in the upcoming fiscal year will play a crucial role in shaping India’s economic landscape and balancing inflationary pressures with growth objectives. Stay tuned for updates on the RBI’s policy decisions and their impact on the economy.