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October 4 will mark the completion of one-year since RBI governor Urjit Patel announced his first monetary policy after taking charge. The day will also mark the anniversary of the inception of six-member Monetary Policy Committee (MPC) which did away with the earlier practice of RBI governor singlehandedly taking a call on interest rates. MPC, under the governorship of Patel, reduced the repurchase (repo) rate by 25 basis points (bps) last year in its October policy review.
It came out with another 25-bps cut in August and is set to kick off the October 3-4 policy meeting on Tuesday. The RBI is unlikely to tinker with repo rate with nine of the 10 economists polled by Business Standard expecting status quo.We take a look at various economic indicators from inflation to interest rates that may have influenced the RBI's policy decision all through last one year: