Minutes from the RBI MPC meeting

Syllabus: GS-III; Subject: Economy Topic: Monetary policies and instruments, Issue: MPC Meeting.

Context:  RBI’s Monetary Policy Committee minutes released.


  • RBI keeps benchmark interest rate unchanged at 6.5% citing inflationary concerns.
  • Price stability essential for high growth.
  • Food inflation risks remain elevated, warns RBI.
  • Climate shocks pose key risk to food inflation.
  • MPC member advocates reducing real interest rates to spur growth.
  • GDP growth projected at 7% for 2024-25, inflation at 4.5%.
Monetary Polict Committee  :

·       Policy Repo Rate Decision: Aimed at achieving the inflation target.

·       Meeting Schedule: Six times a financial year, bi-monthly.

·       Voting System: Majority vote determines decisions, Governor holds casting vote in ties.

·       Publication of Minutes: Minutes of every meeting, including resolutions, votes, and member statements, are published.

·       Monetary Policy Report: Published biannually, provides inflation dynamics, projections, and economy assessments.


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