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Monetary Policy Commitee (RBI)

In this article we will discuss Monetary Policy Commitee (RBI)

In this article, we will discuss Monetary Policy Commitee (RBI). So, let’s get started.

Monetary Policy Committee

  • It is a statutory and institutionalized framework under the Reserve Bank of India Act, 1934, for maintaining price stability, while keeping in mind the objective of growth.
  • The Governor of RBI is ex-officio Chairman of the committee.
  • The MPC determines the policy interest rate (repo rate) required to achieve the inflation target (4%).
  • An RBI-appointed committee led by the then deputy governor Urjit Patel in 2014 recommended the establishment of the Monetary Policy Committee.

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