RBI to hold special MPC meet on November 3 on preparing inflation report 

The inflation has remained above the upper tolerance limit of 6 per cent for nine straight months or three quarters.

Published: 27th October 2022 07:27 PM  |   Last Updated: 27th October 2022 07:27 PM   |  A+A-

RBI, Reserve Bank of India

RBI

By PTI

MUMBAI: The Reserve Bank has called a special meeting of the Monetary Policy Committee on November 3 to prepare a report on its failure to keep retail inflation below 6 per cent for three consecutive quarters.

"Under the provisions of Section 45ZN of the Reserve Bank of India (RBI) Act, an additional meeting of the MPC is being scheduled on November 3, 2022," the central bank said in a statement on Thursday.

Section 45ZN of the Act deals with failure to maintain the inflation target.

The inflation has remained above the upper tolerance limit of 6 per cent for nine straight months or three quarters.



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