RBI postpones MPC meet to Feb 8 as Maharashtra declares holiday on Monday

The three-day meeting of the Monetary Policy Committee (MPC) of the RBI has been postponed by a day after the Maharashtra government declared Monday as a public holiday in a mark of respect for Lata Mangeshkar, who passed away on Sunday. 

The meeting of the interest rate setting body, which was scheduled to start on Monday, will now begin on February 8 and the outcome will be announced on February 10.

There will be no transactions and settlements in Government securities (primary and secondary), foreign exchange, money markets and Rupee Interest Rate Derivatives on February 7, 2022. Settlement of all outstanding transactions will accordingly get postponed to the next working day i.e., February 8, 2022. 

Transactions under Liquidity Adjustment Facility (LAF) Fixed rate Reverse Repo and MSF operations, for which the second leg settlement date was February 7, 2022 will now mature on the next working day i.e., February 8, 2022. Further, the daily LAF Fixed rate Reverse Repo and MSF windows will be available as usual on February 7, 2022.