Reserve Bank of India Governor Shaktikanta Das is holding a press conference at 4 pm on Monday as market mayhem continues due to concerns over coronavirus (Covid-19) pandemic.
There are speculations that Das may announce a rate cut.
If it happens, this will be first inter-meeting rate reduction since the monetary policy committee was instituted in February 2016.
The hurried presser comes amid widespread call for a rate cut following similar steps by the world's leading central banks.
The US Federal Reserve has cut the policy rates to near zero levels in a span of 10 days.
Similarly, the Bank of England has also slashed the rates by 50 basis points, and so did the European Central Bank.
In an email, the RBI said that "Governor Shaktikanata Das will meet the press at 4 pm today (Monday)."
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