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Ravindra Dholakia, sole dissenting member on MPC

June 08, 2017 09:58 IST

Wednesday's was the first MPC meeting that had a dissent note.

The Monetary Policy Committee (MPC) on Wednesday voted 5:1 in favour of the decision on maintaining status quo.

This was the first MPC meeting that had a dissent note, which was by former IIM director Ravindra H Dholakia, who voted against maintaining status quo.

The last cut in repo rate was in October 2016, when the MPC met for the first time and reduced the policy rate by 25 basis points from 6.5 per cent to 6.25 per cent.

According to MPC norms, each member shall have one vote and in case of a tie, the RBI governor shall have a casting vote.

A look at Dholakia’s views on rates and policy at previous MPC meetings:

October 2016

December 2016

February 2017

April 2017

A Correspondent