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

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.
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