Institutional Flows & Policy
MPC (Monetary Policy Committee)
The six-member RBI committee that sets India's repo rate through a majority vote at scheduled policy meetings.
The MPC — three RBI members plus three external economists appointed by the government — meets roughly every two months to review growth and inflation data and vote on the repo rate. Its primary mandate is keeping CPI inflation within a target band (currently 2–6%, with 4% as the medium-term target).
Markets watch not just the rate decision itself but the vote split (unanimous vs. split decisions signal how much internal disagreement exists) and the accompanying policy statement, which shapes expectations for the next several meetings.