RBI MPC Meet LIVE News Updates: It is expected that the RBI will maintain its current interest rates unchanged during its upcoming meeting, with the likelihood of an immediate reduction diminishing. This shift comes after the government issued a caution regarding an impending heatwave and the economy demonstrated a quicker growth trajectory than initially anticipated.It is the first bi-monthly monetary policy of 2024-25. A total of six MPC meetings are scheduled for the fiscal year beginning April 1, 2024.According to a recent survey conducted by ET with 14 participants, it is anticipated that the Monetary Policy Committee (MPC) of the central bank will decide to maintain the repo rate at 6.50% during the conclusion of their three-day meeting on April 5. If this prediction holds true, it would signify the seventh consecutive instance where the committee has chosen to keep the repo rate unchanged at its present level.The repo rate, which denotes the rate at which the RBI lends to banks, is anticipated to remain unchanged until the August 2024 MPC review, according to Aditi Nayar, chief economist at Icra. Nayar suggests that any alteration in policy stance hinges upon factors such as the monsoon turnout, sustained growth momentum, and decisions from the US Fed. Consequently, the earliest possibility for a rate cut is projected to be in the October 2024 meeting. Furthermore, a significant number of respondents foresee the RBI maintaining its stance of withdrawing accommodation in its monetary policy, with many economists indicating that the central bank is inclined to monitor the progress of the monsoon before considering any shift towards a more accommodative monetary policy.All 39 economists surveyed by Bloomberg suggest that the Reserve Bank of India will likely maintain its benchmark repurchase rate at 6.5% for the seventh consecutive policy meeting. Among 23 analysts, only three anticipate any alteration in the central bank's hawkish policy stance towards a neutral one.