Mumbai: Reserve Bank of India (RBI) announced the rescheduling of rate-setting Monetary Policy Committee (MPC) meeting by a day, in the view of Maharashtra declaring public holiday on February 7 to mourn death of Bharat Ratna legendary singer Lata Mangeshkar. The meeting was scheduled for February 7-9, 2022. With the postponement, the meeting will now begin on February 8 and the outcome to be announced on February 10.
‘With February 7, 2022 being declared a public holiday by the Government of Maharashtra under Section 25 of the Negotiable Instruments Act, 1881 as a mark of respect to Bharat Ratna Ku. Lata Mangeshkar, the MPC meeting has been rescheduled to February 8-10, 2022’, RBI said in a late evening statement on Sunday. Looked upon as the greatest singer India has ever had , passed away in a Mumbai hospital after multiple organ failure at the age of 92 .
Also read: Veteran actor Anupam Kher shares Lata Ji’s last audio message for India
Meanwhile, the Reserve Bank is likely to maintain the status quo on key policy rates in its next bi-monthly economic policy, which will be the first after the presentation of the Union Budget for 2022-23. Experts, however, are of the opinion that RBI’s MPC may change the policy stance from ‘accommodative’ to ‘neutral’ and tinker with the reverse-repo rate as part of the liquidity normalisation process.
Post Your Comments