The MPC meeting had been deferred because the appointment of unbiased members was delayed.
With the federal government appointing three members on the Monetary Policy Committee (MPC), the Reserve Bank on Tuesday stated the next meeting of the speed setting panel shall be held for 3 days starting October 7.
On September 28, the RBI had postponed the meeting of the MPC, which should have a quorum of 4, because the appointment of unbiased members was delayed.
“…the next meeting of the Monetary Policy Committee (MPC) is scheduled during October 7 to October 9, 2020,” it stated in a press release.
The authorities has appointed three eminent economists Ashima Goyal, Jayanth R Varma and Shashanka Bhide as members of the MPC.
The new members substitute Chetan Ghate, Pami Dua, and Ravindra Dholakia. They had been appointed on the panel for 4 years on September 29, 2016.