Mumbai: The Reserve Bank of India’s monetary policy committee (MPC) will meet on November 3 to decide on the contents of a letter to be sent to the government following its failure to keep inflation below the tolerance band of 6% for three consecutive quarters since January 2022.
Announcing an out-of-turn meeting of the MPC, the central bank said it was called under the “provision of 45ZN of the RBI Act’’. This section pertains to steps to be taken when the RBI fails to meet the inflation target. However, with the meeting scheduled a day after the US Fed meets to possibly announce another rate hike, there are fears of MPC also taking a rate call.
The RBI has been assigned an inflation target of 4% and a tolerance band of 2% above or below this number. RBI governor Shaktikanta Das has said bringing inflation within target would be a two-year task.
Bu hikaye The Times of India Mumbai dergisinin October 28, 2022 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye The Times of India Mumbai dergisinin October 28, 2022 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
US soccer scrubs Islamic emblem from Iran flag
The federation said in a statement Sunday that it decided to forego the official flag on social media accounts to show “support for the women in Iran fighting for basic human rights.”
Pyar Ke Saat Vachan Dharam Patnii begins on TV tonight
What happens when kismet takes over the lives of two couples belonging to two different sections of society?
Arijit serenades music lovers in Mumbai
Arijit Singh casts a spell with his voice
ARGENTINA LIVE TO FIGHT ANOTHER DAY
Messi's Strike Rattles Mexico And Lusail, Brings Team Back From The Brink
Costa Rica come alive
Los Ticos Stun Japan With Late Fuller Winner
Morocco's moment under the sun
Inspired Atlas Lions Shock Belgium For First WC Win In 24 Years
ON YOUR MARK, GET SET, SOAR
Athletics Icon Usha Set To Become First Woman President Of IOA
Industry body calls for slower rate hikes
CII Asks RBI To Moderate Pace Of Raising Repo As Global Woes May Impact Growth
Insurance reforms may see PE funding surge in sector
Irdai Raises Investment Cap, Allows PEs To Be Promoters
Cut ties with child-killing regime, Khamenei's niece tells world, held
Iranian authorities have arrested a niece of supreme leader Ayatollah Ali Khamenei after she recorded a video describing the authorities led by her uncle as a “murderous and child-killing regime”.
