RBI's MPC meets to draft letter to govt on missing inflation target

The meeting was chaired by RBI Governor Shaktikanta Das and attended by all the other five members of the rate setting panel

The Reserve Bank of India’s (RBI’s) Monetary Policy Committee on Thursday held a separate meeting to deliberate on and draft a report to the government following the first-ever instance of the panel’s failure to achieve its inflation target.

“A separate meeting of the Monetary Policy Committee (MPC) was held on November 3, 2022 to discuss and draft the report to be sent to the Government by the Reserve Bank of India (RBI) under the provisions of Section 45ZN of the RBI Act, 1934 and Regulation 7 of RBI MPC and Monetary Policy Process Regulations, 2016,” the central bank said in