RBI postpones MPC meeting as posts lie vacant

The Reserve Bank's Monetary Policy Committee (MPC) meet for the penultimate policy review for 2020 has been rescheduled. Earlier, the MPC was supposed to have met from Sep 29 to Oct 1.

Mumbai:The Reserve Bank's Monetary Policy Committee (MPC) meet for the penultimate policy review for 2020 has been rescheduled.

Earlier, the MPC was supposed to have met from Sep 29 to Oct 1.

The central bank, however, did not give any reason for rescheduling the meet.

"The meeting of the Monetary Policy Committee (MPC) during September 29, 30 and October 1, 2020... is being rescheduled," the Reserve Bank said in a statement on Monday.

"The dates of the MPC's meeting will be announced shortly."

As per a PTI report, RBI is awaiting the government's decision on new external members to the committee.

The MPC that came into existence in October 2016 has six members including the RBI Governor, Deputy Governor and an Executive Director.

In addition, there are three members nominated by the government.

The tenure of nominated members ended recently and the government is yet to decide on the new members.

(With Inputs from PTI & IANS)