This Monday April 24, 2017, file image Veteran singer Lata Mangeshkar attends the Deenanath Mangeshkar Awards ceremony in Mumbai
Highlight
- RBI has announced the rescheduling of the rate-setting Monetary Policy Committee (MPC) meeting.
- In view of Maharashtra declaring February 7 as a public holiday, it has been postponed by a day.
- The meeting was scheduled for February 8-10, 2022.
The Reserve Bank of India (RBI) on Sunday postponed the meeting of the Rating Monetary Policy Committee (MPC) by a day in view of declaring February 7 as a public holiday in Maharashtra to condole the death of Bharat Ratna legend Lata Mangeshkar. announced the rescheduling. The meeting was scheduled for February 8-10, 2022.
With the postponement, the meeting will now start from February 8 and the result will be declared on February 10.
“With the declaration of a public holiday under Section 25 of the Negotiable Instruments Act, 1881 by the Government of Maharashtra on 7th February, 2022 in honor of Bharat Ratna K. Lata Mangeshkar, the MPC meeting has been rescheduled for 8-10 February, 2022,” RBI said in a late evening statement.
Mangeshkar, whose voice instantly struck a chord with generations of South Asians and is regarded as one of India’s greats, died of multiple organ failure at a Mumbai hospital on Sunday. She was 92 years old.
The Reserve Bank is likely to maintain status quo on key policy rates in its next bi-monthly economic policy, which will be the first since the presentation of the Union Budget for 2022-23.
However, experts are of the view that the RBI’s MPC may change the policy stance from ‘accommodative’ to ‘neutral’ and tinker with the reverse-repo rate as part of the liquidity normalization process.
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