MPC meet in spotlight amid speculation over Governor Shaktikanta Das' term

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MPC meet in spotlight amid speculation over Governor Shaktikanta Das' term - Business Standard

Quick Summary:

After raising the policy repo rate by 250 basis points between May 2022 and February 2023, the panel maintained the status quo on the rate.

External member Nagesh Kumar voted to reduce the policy repo rate by 25 basis points in October.

At a time when we want industries to ramp up and move building capacities… bank interest rates will have to be far more affordable,” Union Finance Minister Nirmala Sitharaman said at State Bank of India’s (SBI’s) annual business and economic conclave last month.