Finance News : RBI – Banks Again Before Policy

Mumbai: The RBI has restarted the process of holding consultation with industry bodies and banks ahead of the monetary policy review next month. The consultative process, which was followed for years, was discontinued in recent years after the monetary policy committee (MPC) took over the job of rate-setting. With the objective of getting a wider feedback, the central bank has invited industry and bankers for pre-policy meetings starting with the April 2018 policy. The MPC will meet on April 4 and 5 to decide on rates following which the RBI will announce the decision. It is widely expected that the RBI will keep rates on hold given favourable inflation numbers.

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