Table 2.

RBI MPC Voting Summary (October 2016–March 2020)

Total Meetings	Meetings with decision to increase rates	Meetings with decision to decrease rates	Meetings with decision to maintain rates	Meetings with consensus regarding direction of change/status quo
22	2	8	12	12
	June 2018 Aug 2018	Oct 2016 Aug 2017 Feb 2019 April 2019 June 2019 Aug 2019 [35 bps vs 25 bps]: 4-2 Oct 2019 [25 bps vs 40 bps]: 5-1 March 2020 [75 bps vs 50 bps]:4-2	Dec 2016 Feb 2017 April 2017 June 2017 Oct 2017 Dec 2017 Feb 2018 April 2018 Oct 2018 Dec 2018 Dec 2019 Feb 2020	Oct 2016 Dec 2016 Feb 2017 April 2017 June 2018 Dec 2018 June 2019 Aug 2019 [35 bps vs 25 bps]: 4-2 Oct 2019 [25 bps vs 40 bps]: 5-1 Dec 2019 Feb 2020 March 2020 [75 bps vs 50 bps]: 4-2

Source: Reserve Bank of India Monetary Policy Committee Press Releases & Meeting Minutes

Note:

The meetings without consensus on magnitude of rate change are underlined