RBI MPC Meet 2024 Updates – In the first meeting of the Monetary Policy Committee of the Reserve Bank of India (RBI) in the new financial year, the Reserve Bank has decided not to make any change in the repo rate. This is the seventh consecutive time that the Reserve Bank has decided not to make any change in the repo rate. In the 6-member Monetary Policy Committee of RBI, it has been decided not to make any change in the repo rate in the ratio of 5-1. i.e. in Out of 6 people, 5 people supported not changing the repo rate and one supported changing it. In view of the stability in inflation rate and economic activities, the committee led by Reserve Bank Governor Shakti Kanta has taken this decision. The MPC meeting of RBI is held every two months. The first RBI MPC meeting for the financial year 2024-25 has started on April 3. This meeting will end after 3 days i.e. today on 5th April. Many important decisions can be taken in this meeting. This time also the chances of change in repo rate seem very less. Before this, there was not even a single change in the repo rate during the last financial year. The Reserve Bank last changed the key policy rate i.e. repo rate in February 2023. At that time the Reserve Bank had increased the repo rate to 6.50 percent. Since then the repo rate is stable at 6.50 percent.
Even in today’s monetary policy, the Reserve Bank can maintain the repo rate at the previous level. Lawmates has conducted a poll in this matter and this is what has come out in the results of this poll. 21 economists, bankers and fund managers were included in the poll. Most of the participants included in these said that the Reserve Bank can take this step due to not much fluctuation in inflation and stability in economic activities.
In its February monetary policy, the central bank had kept the repo rate steady at 6.50 per cent for the sixth consecutive time. No changes were made in this. RBI has not made any change in the repo rate since the monetary policy of April 2023. This time too it is expected that there will be no change in monetary policy.