Finance Act, 2016
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Current affairsRBI Monetary Policy Committee (MPC) October 2026 Meeting: Key Context, Rate Watch and Monetary Policy FrameworkThe Reserve Bank of India's Monetary Policy Committee (MPC) commenced its three-day bi-monthly meeting on October 5, 2026, with the policy decision scheduled for announcement on October 7. The current repo rate stands at 5.25%, held unchanged across four consecutive meetings since a 125 basis-point cumulative easing cycle in 2025. The 63rd MPC meeting takes place against a backdrop of rising retail inflation (~4.82% in August 2026) and elevated global interest rates. Current affairsRBI Open Market Operations (OMO) September 2026: ₹1 Lakh Crore Bond Sales to Drain Durable LiquidityThe Reserve Bank of India (RBI) announced open market operations (OMO) bond sales worth ₹1 lakh crore (₹1 trillion) in three tranches scheduled for September 17, 21, and 28, 2026, to absorb excess durable liquidity from the banking system, which had surged to over ₹10.43 trillion — pushing overnight rates below the RBI's policy repo rate floor.
In previous-year questions
- The Monetary Policy Committee (MPC) of the Reserve Bank of India, which sets the policy repo rate, was established under which provision of the RBI Act, 1934?UPSC · Current Affairs
- The RBI Monetary Policy Committee (MPC) received its statutory basis through an amendment to the RBI Act, 1934. Under which section of the amended RBI Act is the Central Government empowered to determine the inflation target in consultation with RBI?UPSC · Current Affairs