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Banking Exams Exam  >  Banking Exams Questions  >   Consider the following statement regarding M... Start Learning for Free
Consider the following statement regarding Monetary Policy Committee. Which of the following statement is correct?
  • a)
    Reserve Bank of India’s raised the policy repo rate by 50 basis points (bps) to 5.9%.
  • b)
    It has cut India’s GDP growth rate for the current financial year (2022-23) from 7.2% to 7%.
  • c)
    The MPC retained the retail inflation projection for the current fiscal year at 6.7%.
  • d)
    Only 2 and 3
  • e)
    All the above
Correct answer is option 'E'. Can you explain this answer?
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Most Upvoted Answer
Consider the following statement regarding Monetary Policy Committee....
Answer: E
The Reserve Bank of India’s Monetary Policy Committee (MPC) recently raised the policy repo rate by 50 basis points (bps) to 5.9%.
It raised the repo rate (or the rate at which it lends money to the banking system) by 50 basis points (or 0.5 percentage points).
It has cut India’s GDP growth rate for the current financial year (2022-23) from 7.2% to 7%.
The MPC retained the retail inflation projection for the current fiscal year at 6.7%.
Monetary Policy Committee: The Monetary Policy Committee of India is responsible for fixing the policy interest rate, to achieve the objectives of monetary policy.
Composition:
Three officials of the Reserve Bank of India, with the Governor of RBI as Chairperson, ex officio
Three external members appointed by the Government of India
The external members hold office for four years.
Decisions of the MPC are taken based on the majority, with Governor having the casting vote in case of a tie.
The MPC meets at least 4 times a year and it publishes its decisions after each such meeting.
It has been decided, in consultation with the Government of India, that the limit for Ways and Means Advances (WMA) for the second half of the financial year 2022-23 (October 2022 to March 2023) will be Rs. 50,000 crores.
The Reserve Bank may trigger fresh floatation of market loans when the Government of India utilizes 75 percent of the WMA limit.
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Consider the following statement regarding Monetary Policy Committee. Which of the following statement is correct?a)Reserve Bank of India’s raised the policy repo rate by 50 basis points (bps) to 5.9%.b)It has cut India’s GDP growth rate for the current financial year (2022-23) from 7.2% to 7%.c)The MPC retained the retail inflation projection for the current fiscal year at 6.7%.d)Only 2 and 3e)All the aboveCorrect answer is option 'E'. Can you explain this answer?
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Consider the following statement regarding Monetary Policy Committee. Which of the following statement is correct?a)Reserve Bank of India’s raised the policy repo rate by 50 basis points (bps) to 5.9%.b)It has cut India’s GDP growth rate for the current financial year (2022-23) from 7.2% to 7%.c)The MPC retained the retail inflation projection for the current fiscal year at 6.7%.d)Only 2 and 3e)All the aboveCorrect answer is option 'E'. Can you explain this answer? for Banking Exams 2025 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about Consider the following statement regarding Monetary Policy Committee. Which of the following statement is correct?a)Reserve Bank of India’s raised the policy repo rate by 50 basis points (bps) to 5.9%.b)It has cut India’s GDP growth rate for the current financial year (2022-23) from 7.2% to 7%.c)The MPC retained the retail inflation projection for the current fiscal year at 6.7%.d)Only 2 and 3e)All the aboveCorrect answer is option 'E'. Can you explain this answer? covers all topics & solutions for Banking Exams 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statement regarding Monetary Policy Committee. Which of the following statement is correct?a)Reserve Bank of India’s raised the policy repo rate by 50 basis points (bps) to 5.9%.b)It has cut India’s GDP growth rate for the current financial year (2022-23) from 7.2% to 7%.c)The MPC retained the retail inflation projection for the current fiscal year at 6.7%.d)Only 2 and 3e)All the aboveCorrect answer is option 'E'. Can you explain this answer?.
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