RBI policy panel to discuss inflation report on Nov. 3

RBI policy panel to discuss inflation report on Nov. 3

• The Reserve Bank of India (RBI) has called for an additional meeting of its Monetary Policy Committee (MPC) on November 3 to discuss its response to the Centre for missing the mandated target of 2% to 6% retail inflation for three quarters in a row.
• The MPC would deliberate on the report to be sent by RBI Governor Shaktikanta Das explaining why the target was missed and what measures the RBI would take to bring inflation back within the range.
• This will be the first time such a report is prepared since the MPC framework took effect in 2016. This will also be the second time an off-schedule meeting has been called for this year. 
• In May, the panel had met to raise rates in a bid to rein in inflation.