Reserve Bank to announce its third bi-monthly policy review of current fiscal

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The Reserve Bank of India will announce the third bi-monthly policy review statement of this fiscal this afternoon. The six members Monetary Policy Committee led by RBI Governor Dr. Urjit Patel began two day meeting in Mumbai yesterday. 

AIR Correspondent reports that the RBI Monetary Policy Committee meeting's outcomes are keenly awaited by all stakeholders including industry and stock markets. 

This time round, bankers expect RBI to change its monetary stance and cut benchmark lending rate by at least 0.25 per cent. Some also expect that the central bank may go for an even more aggressive rate cut as the retail inflation touched historic low of 1.54 per cent in June. 

The panel, in its previous bi-monthly review in June, had retained the repo rate at 6.25 per cent for the fourth straight time citing risk to inflation. The resolution of the MPC will be placed on the website today at 2.30 pm.