Reserve Bank of India's Monetary Policy Committee's three-day meeting began in Mumbai today to discuss the bi-monthly policy. The announcements on the outcome will be made on Thursday.

The MPC is meeting in the backdrop of the decline in retail inflation to 4.7 percent which came down below 5 percent after 18 months. After the last MPC meeting, RBI paused its rate hike trend by keeping the repo rate at 6.5%. This will be the first MPC meeting after the announcement of the withdrawal of Rs 2000/- note from circulation by the apex bank.