Current Economic Trends Repo Rate
- The Monetary Policy Committee (MPC) has kept the repo rate unchanged at 50 per cent for the ninth consecutive time.
- The committee has also decided to maintain the monetary policy stance of ‘withdrawal of accommodation’.
About MPC
- Constituted under Section 45ZB of the amended RBI Act, 1934.
- First MPC – September 29,
- Quorum – 4 members
- Members – 6 (3 – RBI, 3 – Central Government)
- Chairperson – Governor of the Reserve Bank of India (Shaktikanta Das)
Note
- The interest rate that the RBI charges when commercial banks borrow money from it is called the repo
