CURRENT AFFAIRS

Detailed explanation-1: -The Reserve Bank of India will announce its final bi-monthly monetary policy review today, for the financial year 2022-23. The meeting of the six-member Monetary Policy Committee headed by RBI Governor Shaktikanta Das began on Monday and after due deliberations, the policy will be announced at 10 this morning.

Detailed explanation-2: -The minutes of the MPC’s meeting will be published on February 22, 2023. 14. The next meeting of the MPC is scheduled during April 3, 5 and 6, 2023.

Detailed explanation-3: -The central bank had also raised the Repo Rate to 5.4% earlier on August 05, 2022. The Reverse Repo Rate remains at 3.35% after the announcement, while according to the recent RBI Repo Rate news, the new repo rate is now 6.25%.

Detailed explanation-4: -On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (September 30, 2022) decided to: Increase the policy repo rate under the liquidity adjustment facility (LAF) by 50 basis points to 5.90 per cent with immediate effect.

Detailed explanation-5: -The Monetary Policy Committee The MPC determines the policy repo rate required to achieve the inflation target. The MPC is required to meet at least four times in a year.