In this context, the delay in the scheduled meeting of the Reserve Bank of India’s (RBI) monetary policy committee (MPC) is unfortunate. The MPC is a six-member team with three members from RBI and three external. The government gets to appoint the external members, and it has not done so despite the tenure of the previous three members ending last month. This means that the MPC does not have the quorum of four members to go ahead and meet. So far, the MPC has not given an explicit forecast for the current year, citing the need for more data prints.

Source: Mint September 28, 2020 12:00 UTC