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RBI Guv to hold pre-MPC meet with trade bodies, rating agencies on March 26

The meeting, which comes ahead of the next financial year's first MPC meet scheduled for April 4, is aimed at broadening the consultation process

Press Trust of India  |  New Delhi 

Shaktikanta Das
File photo of RBI Governor Shaktikanta Das

of India (RBI) will hold discussions on March 26 with representatives of trade bodies and credit rating agencies on interest rate and steps to boost economic activities, said sources.

The meeting, which comes ahead of the next financial year's first MPC meet scheduled for April 4, is aimed at broadening the consultation process, they added.

The bi-monthly policy, to be finalised by the six-member (MPC), assumes significance as it would be announced just a week before the commencement of the seven-phase beginning April 11.

"The pre-policy consultation meeting" with the will take place in on March 26, the sources said.

Besides trade bodies, including industry chambers and rating agencies, the has also called representatives of the All India Depositors' Association.

Das has been meeting industry chambers, financial companies, bankers, government representatives and rating agencies to elicit their views on different aspects of the and the measures they expect from the

Soon after taking charge as the 25th governor of the in December 2018, he had promised to take all stakeholders, including the government, along on key policy issues to maintain growth while keeping inflation under check.

While the cut the interest rate in its February monetary policy after a gap of 18 months, industry has started clamouring for another rate cut as is below the RBI's benchmark of 4 per cent and need for boosting growth is pressing.

There have also been complaints that banks do not pass on the entire benefit of policy rate cut to borrowers.

Last month, the governor had held meeting with top officials of public and private sector banks to discuss rate transmission and persuade them to pass on the benefit of lower interest rates to the consumers.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Sun, March 17 2019. 11:50 IST