Short of MPC members, RBI announces deferring monetary policy meeting

The central bank didn't give any reason, but the external members for the MPC have not been appointed by the government.

In an unprecedented move, the Reserve Bank of India (RBI) on Monday said it was deferring meetings of its monetary policy committee (MPC) scheduled on September 29, 30, and October 1. The revised dates will be notified later, it clarified.  

“The meetings of the MPC on September 29, 30, and October 1 as announced are being rescheduled. The dates of the MPC’s meetings will be announced shortly,” the RBI said in its brief statement. 

While the central bank did not assign any reason for the deferment, the government is yet to announce the external members for the six-member MPC. The past three