TNPSC Thervupettagam

Monetary Policy Committee

July 25 , 2017 2439 days 1577 0
• It is a statutory body entrusted with the task of fixing benchmark policy rate (Repo rate) to contain inflation within the specified target level of 4% with a band of 2%. • There are six Members of Monetary Policy Committee, three Members will be from the RBI and the other three Members of MPC will be appointed by the Central Government. • The panel is required to meet at least four times in a year. • The Members of the MPC appointed by the Central Government shall hold office for a period of four years or until further orders, whichever is earlier. • Each Member of the MPC has one vote and in case the numbers are equal, the RBI Governor has the casting vote. • All the Members need to disclose their assets and liabilities and update the information once in every year. • It should submit a report to the central government within one month from the date which the bank has failed to meet the inflation target. • Members shall observe a silent or blackout period for seven days before and after the committee meeting.

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