The rate-setting Monetary Policy Committee (MPC) will be meeting five times in FY21, against seven in FY20.

Usually, the MPC meets six times a year. But, in FY20, it had an extra meeting (the meeting originally scheduled for March 31, April 1 and 3, 2020, was advanced to March 24, 26 and 27) in view of the pandemic and the urgent need to assess the current and evolving macroeconomic situation.

In FY21, the committee’s meetings are scheduled for June 3-5, August 4-6, September 29-30 and October 1, December 2-4 and February 3-5.

The MPC meetings are chaired by RBI Governor Shaktikanta Das. The members of the committee are: Chetan Ghate, Professor, Indian Statistical Institute; Pami Dua, former Director, Delhi School of Economics; Ravindra H. Dholakia, former Professor, Indian Institute of Management, Ahmedabad; Janak Raj, Executive Director; and Michael Debabrata Patra, Deputy Governor in charge of monetary policy.