Greater transparency could enhance RBI credibility | Dr Vidya Mahamabre

The MPC meeting typically begins with presentations by the central bank’s monetary policy department, information and insights derived from various surveys, and stakeholders’ discussions such as with representatives of banks and industry that are held leading up to the meeting. This is followed by deliberations among the members. The meeting ends after the members cast their votes on the last day. Usually, the meetings used to be held over two days, but have been stretched to a three-day affair since last June. At the time, RBI had attributed the extension to “administrative exigencies", although it has stuck to the format since. The next meeting is scheduled on 3, 4 and 6 June.