India’s Central Bank Delays MPC Meeting as Posts Lie Vacant

The Reserve Bank of India rescheduled this week’s interest-rate meeting after authorities failed to appoint external members to the Monetary Policy Committee, adding a new layer of uncertainty to an economy facing its worst contraction in history.

The terms of three external people on the six-member MPC ended last month, and they are yet to be replaced by the government. The rules of the panel require at least four members to be present at the meeting. The RBI will announce a new date soon, the central bank said in a statement without giving reasons for the delay.