Current Economic Trends
Repo Rate
▪ The Monetary Policy Committee (MPC) has kept the repo rate unchanged at 6.5 per cent for the eight 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, 2016.
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 rate
