MPC to meet tomorrow as new external members come on board

The Reserve Bank of India will announce the monetary policy on October 9 as the Monetary Policy Committee (MPC) will meet during October 7-9.

The announcement by the Central bank comes after the government filled the vacancies of three external members in the committee.

"The next meeting of the Monetary Policy Committee (MPC) is scheduled during October 7 to October 9, 2020," RBI said in a statement on Tuesday.

The government on Monday appointed Ashima Goyal, Jayanth R. Varma and Shashanka Bhide as members of the Monetary Policy Committee of the RBI.

Ashima Goyal is a member of Prime Minister Narendra Modi's economic advisory council.

Jayanth Varma is a finance and accounting professor at the Indian Institute of Management, Ahmedabad. Shashanka Bhide is a senior advisor at the National Council for Applied Economic Research.

The appointments have come after a significant delay as the MPC which was supposed to have met from September 29 to October 1 had to be deferred due to the vacancies.

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