3 new external members? Govt announces ahead of key RBI MPC meet.
Prof Ram Singh, director of the Delhi School of Economics; economist Saugata Bhattacharya; and the Institute for Studies in Industrial Development’s director and chief executive, Dr Nagesh Kumar, as members of the Monetary Policy Committee (MPC). These are the members are appointed for a tenure of four years, by the government on Tuesday.
The new members will replace Mumbai professor Ashima Goyal, IIM-Ahmedabad professor Jayanth Varma, and New Delhi senior adviser Shashanka Bhide.
The government has notified the reconstitution of the MPC under the Reserve Bank of India Act, 1934. As per the provisions of the RBI Act, the MPC consists of six members: three members from RBI and three appointed by the central government.
The government has notified the reconstitution of the MPC under the Reserve Bank of India Act, 1934. As per the provisions of the RBI Act, the MPC consists of six members: three members from RBI and three appointed by the central government.
