Mumbai: The Reserve Bank of India (RBI) on Thursday announced a change in the date of the upcoming meeting of the Monetary Policy Committee, which will take the decisions on policy rates.

Due to administrative exigencies, it has been decided to reschedule the MPC meeting from August 2-4, 2022 to August 3-5, 2022. The announcement is being made under Section 45ZI(4) of the Reserve Bank of India Act, 1934, RBI Chief General Manager Yogesh Dayal said in a statement.

On March 30, 2022, the RBI announced the meeting schedule of the Monetary Policy Committee for 2022-2023.

The Monetary Policy Committee meets once in every two months.

In the previous meeting held during June 6-8, the Monetary Policy Committee (MPC) had decided to hike the policy repo rate by 50 basis points to 4.9 per cent and raised the inflation projection for the current financial year to 6.7 per cent.