Who among the following heads the six-member Monetary Policy Committee (MPC) of the Reserve Bank of India?

Question

Question

This question was previously asked in

OSSC CGL 2022 Official Paper (Held on: 12th Oct Shift 2)

Answer 1

Correct Answer RBI Governor

Key Points

MPC is required to meet at least four times a year.
RBI Governor heads the six-member Monetary Policy Committee (MPC) of the Reserve Bank of India
The quorum (minimum number of participants) for the meeting of the MPC is four members.
Each member of the MPC has one vote.
In the case of a tie of votes, while taking a decision in the MPC, the Governor has a second or casting vote.
Once in every sixth month, RBI is required to publish a document called the Monetary Policy Report.
The Monetary policy Report Contains
- The sources of inflation
- The forecast for inflation for 6-18 months ahead.

Additional Information

The MPC is composed of 6 members out of which three are from RBI and the other three is external members appointed by the Government of India for a period of four years.
The composition of MPC is

Members From RBI	External Members
1.Shaktikant Das(Governor RBI, Ex-Officio Chairman of MPC)	1.Ashima Goyal( Professor, Indira Gandhi Institute for Development Research)
2.	2.Shashank Bhinde( Senior Advisor, National Council of Applied Economic Research)
3.Mridual Saggar(Executive Director RBI)	3.Jayant Verma( Professor, Indian Institute of Management, Ahmedabad)