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New Monetary Policy Committee will meet on October 3 and 4: RBI

This is the first time interest rates will be decided by a committee consisting of three nominees each from the government and RBI.

, ET Bureau|
Updated: Oct 03, 2016, 10.41 AM IST
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MUMBAI: The newly formed Monetary Policy Committee (MPC) of the Reserve Bank of India will meet for the first time on October 3 in a two day meeting that will end on October 4, the central bank said on its website.

This is the first time interest rates will be decided by a committee consisting of three nominees each from the government and RBI.

This is also the first monetary policy review after Urjit Patel took over as governor on September 4.

The decision of the committee will be put on the RBI website at 2:30 pm on October 4, the central bank said.

As of now it is unclear whether governor Patel will also address the media after the policy is made public.

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