MUMBAI: The Reserve Bank of India’s Monetary Policy Committee meeting to be held this week has been postponed due to delays in the appointment of independent members. The three-day MPPC meeting was scheduled to begin tomorrow. The Reserve Bank of India (RBI) has said it will provide information on when the four meetings will be held in the coming days. Earlier, the governor had the power to determine interest rates. However, in 2016, the six-member monetary policy committee was changed to the same system. The term of the three external members of the MPPC has expired and no new members have been appointed in its place. As a rule, at least four members are required to hold meetings. It has been decided to adjourn the meeting due to lack of quorum.
NEW DELHI: The Supreme Court has given another week to the Center to present a scheme related to the debt moratorium to alleviate the financial hardships of borrowers severely affected by the Karona epidemic. The court asked the government to file a moratorium plan by the 28th of this month. The case is being re-assigned to another judge, and the trial is set to begin on October 5. But the government has made it clear that such talks are in full swing. The plan will be ready in 2-3 days. Solicitor General Tushar Mehta asked for more time from the Center to present the moratorium plan.
