RBI postpones rate meeting, forex markets shut today, these banking services also to be affected

Reserve Bank of India (RBI) has pushed back it's rate setting meeting as the state government announced a public holiday on Feb 7 as the country mourns Lata Mangeshkar's passing.

The central bank’s monetary policy committee (MPC) will now meet Feb. 8-10, the authority said in a statement late Sunday. Its decision will be announced Thursday, Feb 10.

The financial capital will also see a slowdown in the money market activities as banks will remain closed as well. The stock markets however remain open for trade though the the bond and currency markets will be shut Monday. Settlement of all outstanding transactions will accordingly get postponed to the next working day i.e., February 8, 2022.