Chennai, Nov 28 : The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) will continue with the 6.5 per cent repo rate and will not change its stance at its upcoming meeting next month as the inflation will average about 5.5 per cent for the year, said experts.

As per media reports, Nawaz Modi, a board member, alleged that she and her daughter were physically assaulted by Gautam Singhania, the company’s Chairman and Managing Director, at JK House (company property) in September.

She has also alleged that company funds were being used for Gautam Singhania’s personal benefit (CEO excesses) – and that she was acting as a whistle-blower of sorts.

“Despite such serious and heinous accusations by one board member against another, you have been silent. Investors are worried, which is reflected in the significant erosion in stock price over the past few days. Your silence can be misconstrued – surely you don’t want stakeholders thinking that these accusations are to be tolerated,” IIAS said.