RBI MPC Meeting: Relief from expensive EMI in the new financial year! RBI announced the dates of MPC meetings

RBI MPC Meeting: Banking sector regulator Reserve Bank of India has postponed the meeting of the Monetary Policy Committee to be held during the new financial year 2024-25 from April 1. The schedule of dates has been released. The first meeting of the RBI Monetary Committee in 2024-25 will be held from 3 to 5 April 2024 and the RBI Governor will announce the decisions taken in the MPC meeting on 5 April. 

When will the MPC meeting take place?

RBI said that a total of six Monetary Policy Committee meetings will be held during the financial year 2024-25. In which the first meeting will be held from 3 to 5 April 2024. The second MPC meeting will be held from June 5 to 7 and the decision of the MPC meeting will be announced on June 7. The third MPC meeting will be held from 6 to 8 August 2024. The fourth meeting will be held from 7 to 9 October and the decisions taken in the meeting will be announced on 9 October. The fifth meeting will be held from 4 to 6 December 2024. And the sixth and last Monetary Policy Committee meeting of 2024-25 will be held from 5 to 7 February in the new year 2025 and the RBI Governor will give information about the decisions taken in the meeting on 7 February. 

Possible reduction in policy pets

The meeting of the Monetary Policy Committee to be held in the new financial year is going to be very special. Many rating agencies have predicted that RBI may cut the policy rates i.e. Repo Rate by 75 basis points during 2024. Rating agency S&P Global Ratings has also expressed the possibility of cutting interest rates. 

You will get relief from expensive EMI!

The US Central Bank Fed Reserve has indicated to cut interest rates three times in 2024. After this, it is believed that RBI can also reduce the interest rates after the inflation rate comes close to 4 percent. At present, the retail inflation rate in February was 5.1 percent. But people troubled by expensive EMIs are hopeful that they will get relief from the burden of expensive EMIs in the new financial year.    

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