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Who is the Chairperson of the monetary policy committee (MPC)?
- a)Prime Minister
- b)Governor, Reserve Bank of India
- c)Deputy Governor, Reserve Bank of India
- d)Finance Minister
- e)Finance Secretary
Correct answer is option 'B'. Can you explain this answer?
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Who is the Chairperson of the monetary policy committee (MPC)?a)Prime...
Composition of the MPC - The Governor is the Chairperson, and the Deputy Governor and an office of the RBI are appointed as ex-officio internal members of the MPC. Three other members are external, selected by the Government of India in terms of criteria relevant to the conduct of monetary policy and specified in the RBI Act. Each member has a single vote, with the Governor exercising a casting vote in the case of a tie.
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Who is the Chairperson of the monetary policy committee (MPC)?a)Prime...
Chairperson of the Monetary Policy Committee (MPC)
Chairperson of the Monetary Policy Committee (MPC) is the Governor of the Reserve Bank of India. The MPC is responsible for making decisions on key policy rates, such as the repo rate, in order to achieve the inflation target set by the government.
Role of the Governor, Reserve Bank of India
The Governor of the Reserve Bank of India plays a crucial role in leading the MPC and ensuring that monetary policy decisions are made in line with the objectives of price stability and growth. As the Chairperson of the MPC, the Governor presides over the meetings, provides guidance to the committee members, and casts the deciding vote in case of a tie.
Importance of the Governor in the MPC
The Governor's position as the head of the MPC is vital in shaping the direction of monetary policy in India. With their expertise and experience in the financial sector, Governors are able to provide valuable insights and leadership to the committee members. Their role in communicating policy decisions to the public and stakeholders also helps in maintaining transparency and credibility of the MPC.
Conclusion
In conclusion, the Chairperson of the Monetary Policy Committee (MPC) is the Governor of the Reserve Bank of India. Their leadership and guidance are essential in steering the committee towards achieving the objectives of price stability and growth through effective monetary policy decisions.
Chairperson of the Monetary Policy Committee (MPC) is the Governor of the Reserve Bank of India. The MPC is responsible for making decisions on key policy rates, such as the repo rate, in order to achieve the inflation target set by the government.
Role of the Governor, Reserve Bank of India
The Governor of the Reserve Bank of India plays a crucial role in leading the MPC and ensuring that monetary policy decisions are made in line with the objectives of price stability and growth. As the Chairperson of the MPC, the Governor presides over the meetings, provides guidance to the committee members, and casts the deciding vote in case of a tie.
Importance of the Governor in the MPC
The Governor's position as the head of the MPC is vital in shaping the direction of monetary policy in India. With their expertise and experience in the financial sector, Governors are able to provide valuable insights and leadership to the committee members. Their role in communicating policy decisions to the public and stakeholders also helps in maintaining transparency and credibility of the MPC.
Conclusion
In conclusion, the Chairperson of the Monetary Policy Committee (MPC) is the Governor of the Reserve Bank of India. Their leadership and guidance are essential in steering the committee towards achieving the objectives of price stability and growth through effective monetary policy decisions.
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Who is the Chairperson of the monetary policy committee (MPC)?a)Prime Ministerb)Governor, Reserve Bank of Indiac)Deputy Governor, Reserve Bank of Indiad)Finance Ministere)Finance SecretaryCorrect answer is option 'B'. Can you explain this answer?
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