The Reserve Bank of India (RBI) will not immediately release details of its special policy-setting committee meeting.
According to Governor Shaktikanta Das, the meeting will be held to discuss its response to the government for failing to stick to its inflation mandate.
Das, on November 2, said that a letter that will be sent to the government after the special meeting to be held on November 3 will not be made public because the bank does not have the authority to release it.
According to media reports, the Monetary Policy Committee is mandated to keep inflation within 2 percentage points on either side of its 4 per cent target and failure to do so for three straight quarters requires the bank to explain to the government.
However, Das added he expected the contents will be made public eventually. He also said that he expects inflation to moderate, adding that curtailing price pressures sooner would have resulted in very high costs for the economy.
ALSO READ : Draft issued on IT governance for regulated entities by RBI
FIRST Business Portal addressing the potential of business capability of North East Region.
