Q. With reference to the Monetary Policy Committee (MPC) consider the following statements:
1.It is headed by the Finance Minister of India.
2.It is a statutory body.
3.It was set up on the recommendation of the Urjit Patel Committee.
Select the correct statement using the codes given below:
Answer: B
Notes:
Statement 1: The statement is incorrect. Monetary Policy Committee (MPC) is headed by the RBI Governor.
Statement 2: MPC is a statutory body established under section 45ZB of the RBI Act 1934.
Statement 3: It was set up on the recommendation of the Urjit Patel Committee.
Source: Live Mint
