Government picks three new members to join RBI’s Monetary Policy Committee

Daily Current Affairs / Government picks three new members to join RBI’s Monetary Policy Committee

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Category : Business and economics Published on: October 05 2024

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The central government appointed members of the new Monetary Policy Committee with immediate effect on October 1, 2024.
The new members include Ram Singh, Saugata Bhattacharya and Nagesh Kumar. He has been appointed by the central government for a period of four years.
As per the provisions of the RBI Act, the Monetary Policy Committee (MPC) consists of six members — three members from the RBI and three appointed by the central government.
The three members of the RBI are the governor, the deputy governor, and an officer nominated by the central board.
These members shall hold office with immediate effect for a term of four years or until further orders, whichever is earlier.