India finmin official says monetary policy panel to meet before October 4

September 27, 2016 8:48 AM EDT

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MUMBAI (Reuters) - India's Economic Affairs Secretary Shaktikanta Das said the new six-member Monetary Policy Committee, which will set interest rates, will meet before the Reserve Bank of India's policy review on Oct. 4 and give their recommendations.

"The MPC will, of course, meet before the fourth of October and the committee will give their recommendations based on which the RBI will take a decision," Das told reporters on the sidelines of a conference on corporate bond markets.

Last week, the government picked three low-key economists for the committee. The rest of the panel will comprise RBI Governor Urjit Patel and his two senior-most monetary policy officials.

(Reporting by Abhirup Roy; Editing by Sherry Jacob-Phillips)

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