RBI's first Monetary Policy Committee bows out with CPI above target

The MPC held its first meeting in October 2016 under then-Governor Urjit Patel

The Reserve Bank of India’s first Monetary Policy Committee completes its four-year term with a mixed record.

While the six-member panel managed to keep inflation within the 2% to 6% target band for most of that time, it ends the period with consumer-price growth well above that range.

The MPC held its last policy meeting under its current term on Aug. 4-6, and the minutes published Thursday may offer insights into the outlook for prices amid economic disruptions caused by the coronavirus pandemic. The committee will now be overhauled with three new external members expected to join by October and