Three new members have been inducted in the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI)
Dr Shashanka Bhide, Dr Ashima Goyal and Dr Jayanth R Varma are the new members of the MPC
New Delhi: The Appointments Committee of the Cabinet (ACC), headed by Prime Minister, has approved the appointments of these three economists as Members of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI). In an official press release on Tuesday, the RBI said that the next meeting of the Monetary Policy Committee (MPC) is scheduled to be held on October 7 to October 9. RBI will announce monetary policy on October 9. The news came just a day after the government approved the appointment of these three economists as its Member. Here is the list:-
Dr Shashanka Bhide, who is currently serving as Senior Advisor of Research Programmes at National Council of Applied Economic Research (NCAER), New Delhi, has been appointed as Member of MPC.
Dr Ashima Goyal, who is currently serving as Professor at Indira Gandhi Institute of Development Research (IGIDR) and Part-Time Member of Prime Minister's Economic Advisory Council (PMEAC), has been appointed as Member of MPC.
Dr Jayanth R Varma, who is currently serving as Professor at Indian Institute of Management, Ahmedabad, has been appointed as Member of MPC.
Monetary Policy Committee (MPC)
The Monetary Policy Committee (MPC) is a statutory committee that fixes the key policy interest rates and monetary policy stance of the country as well as the inflation target. The MPC comprises three external members and three members from the RBI. The RBI Governor heads the MPC, with the Deputy Governor in charge of the Monetary Policy Department, and the Executive Director looking after the policy as the other members from the central bank.
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