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
