Meet Ravindra Dholakia: MPC's sole dissenting member

The Monetary Policy Committee (MPC) on Wednesday voted 5:1 in favour of the decision on maintaining status quo. This was the first MPC meeting that had a dissent note, which was by IIM Ahmedabad faculty member Ravindra H Dholakia, who voted against maintaining status quo. The last cut in repo rate was in October 2016, when the MPC met for the first time and reduced the policy rate by 25 basis points from 6.5 per cent to 6.25 per cent. According to MPC norms, each member shall have one vote and in case of a tie, the RBI governor shall