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With reference to the Section 45ZN of the RBI Act, consider the following statements:
1. This section says that in case the RBI fails to meet the inflation target, it has to present a report to the government explaining the reasons for the failure.
2. The report is required to be sent to the government within 6 months from the date on which the RBI failed to meet the inflation target.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
With reference to the Section 45ZN of the RBI Act, consider the follow...
The Reserve Bank of India (RBI) recently said that it would hold an additional Monetary Policy Committee (MPC) meeting on November 3, 2022.
- This meeting has been called as the RBI has failed to maintain the consumer price index (CPI) inflation target within the 2-6 per cent band for three consecutive quarters, or nine straight months — January to September 2022.
- This is the first time since the RBI adopted an inflation-targeting monetary policy regime in 2016 that an MPC meeting has been called under the provisions of Section 45ZN of the Act.
Section 45ZN of the RBI Act:
- This section says that in case the RBI fails to meet the inflation target, it has to present a report to the government explaining the reasons for the failure.
- In the report, the central bank will have to mention the remedial actions it proposes to take, and an estimated time within which the inflation target will be achieved following the timely implementation of the proposed remedial actions.
- The report is required to be sent to the government within one month from the date on which the RBI failed to meet the inflation target.
Regulation 7 of the RBI MPC and Monetary Policy Process Regulations, 2016:
- It states that a separate meeting is required to be scheduled as part of the normal policy process to discuss and draft the report to be sent to the government.
Hence only statement 1 is correct.
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With reference to the Section 45ZN of the RBI Act, consider the following statements:1. This section says that in case the RBI fails to meet the inflation target, it has to present a report to the government explaining the reasons for the failure.2. The report is required to be sent to the government within 6 months from the date on which the RBI failed to meet the inflation target.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?
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With reference to the Section 45ZN of the RBI Act, consider the following statements:1. This section says that in case the RBI fails to meet the inflation target, it has to present a report to the government explaining the reasons for the failure.2. The report is required to be sent to the government within 6 months from the date on which the RBI failed to meet the inflation target.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the Section 45ZN of the RBI Act, consider the following statements:1. This section says that in case the RBI fails to meet the inflation target, it has to present a report to the government explaining the reasons for the failure.2. The report is required to be sent to the government within 6 months from the date on which the RBI failed to meet the inflation target.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Section 45ZN of the RBI Act, consider the following statements:1. This section says that in case the RBI fails to meet the inflation target, it has to present a report to the government explaining the reasons for the failure.2. The report is required to be sent to the government within 6 months from the date on which the RBI failed to meet the inflation target.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?.
With reference to the Section 45ZN of the RBI Act, consider the following statements:1. This section says that in case the RBI fails to meet the inflation target, it has to present a report to the government explaining the reasons for the failure.2. The report is required to be sent to the government within 6 months from the date on which the RBI failed to meet the inflation target.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the Section 45ZN of the RBI Act, consider the following statements:1. This section says that in case the RBI fails to meet the inflation target, it has to present a report to the government explaining the reasons for the failure.2. The report is required to be sent to the government within 6 months from the date on which the RBI failed to meet the inflation target.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Section 45ZN of the RBI Act, consider the following statements:1. This section says that in case the RBI fails to meet the inflation target, it has to present a report to the government explaining the reasons for the failure.2. The report is required to be sent to the government within 6 months from the date on which the RBI failed to meet the inflation target.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?.
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