RBI minutes: Patel, most MPC members in favour of more data before changing policy stance
Favouring status quo on key policy rate, RBI Governor Urjit Patel preferred to wait for more data before changing monetary stance though he took note of recovery in economic activities and continued improvement in credit offtake, according to minutes of the April policy meeting. The six-member Monetary Policy Committee (MPC), headed by Patel, had left the benchmark repo rate unchanged for the third time in a row after deliberations on April 4-5. As per the minutes of the MPC meeting released by the RBI, Patel noted that economic activity has…
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