Lata Mangeshkar’s Demise: RBI Postpones MPC Meet to Feb 8, Shuts Branches as Maharashtra Declares Vacation on Mon

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The assembly was scheduled for February 7-9, 2022. (PTI)

With the postponement, the assembly will now start on February Eight and the result can be introduced on February 10.

  • PTI Mumbai
  • Final Up to date:February 06, 2022, 23:38 IST
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Reserve Financial institution of India (RBI) on Sunday introduced rescheduling of rate-setting Financial Coverage Committee (MPC) assembly by a day in view of Maharashtra declaring public vacation on February 7 to mourn dying of Bharat Ratna legendary singer Lata Mangeshkar. The assembly was scheduled for February 7-9, 2022.

With the postponement, the assembly will now start on February Eight and the result can be introduced on February 10. “With February 7, 2022 being declared a public vacation by the Authorities of Maharashtra underneath Part 25 of the Negotiable Devices Act, 1881 as a mark of respect to Bharat Ratna Ku. Lata Mangeshkar, the MPC assembly has been rescheduled to February 8-10, 2022,” RBI mentioned in a late night assertion.

Mangeshkar, whose voice struck an instantaneous chord of recognition with generations of South Asians and is taken into account one in every of India’s greats, died in a Mumbai hospital on Sunday attributable to a number of organ failure. She was 92. The Reserve Financial institution is prone to keep the established order on key coverage charges in its subsequent bi-monthly financial coverage, which would be the first after the presentation of the Union Finances for 2022-23.

Consultants, nevertheless, are of the opinion that RBI’s MPC might change the coverage stance from ‘accommodative’ to ‘impartial’ and tinker with the reverse-repo charge as a part of the liquidity normalisation course of.

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