{"id":312308,"date":"2024-10-03T21:39:39","date_gmt":"2024-10-03T16:09:39","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=312308"},"modified":"2024-10-04T21:40:49","modified_gmt":"2024-10-04T16:10:49","slug":"new-external-mpc-members-may-keep-markets-guessing","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/new-external-mpc-members-may-keep-markets-guessing\/","title":{"rendered":"New external MPC members may keep markets guessing"},"content":{"rendered":"<p><strong>News:<\/strong> <em>The three new external members of the Reserve Bank of India\u2019s Monetary Policy Committee (MPC) will be taking charge at a time when many believe interest rate curve is at an inflection point.<\/em><\/p>\n<p>1. Monetary Policy Committee (MPC) is a statutory body under the RBI Act 1934.<\/p>\n<p>2. It is responsible for fixing the benchmark interest rate in India.<\/p>\n<p>3. The prime objective of MPC is to maintain price stability while keeping in mind the objective of growth.<\/p>\n<p>4. It comprises of 6 members- 3 officials of RBI (Governor of RBI, Deputy Governor in charge of monetary policy, an officer nominated by the central board of the regulator), and 3 external members nominated by GOI.<\/p>\n<p>5. The external members are selected by a 6-member search-cum-selection committee headed by Cabinet Secretary.<\/p>\n<p>6.The governor of RBI is the ex-officio chairperson of the MPC committee.<\/p>\n<p>7. Decisions in MPC are taken by majority vote. In case of tie, the governor exercises a casting vote.<\/p>\n<p>8. Govt of India has mandated MPC to maintain 4% annual inflation until 31 March 2026 with an upper tolerance of 6% and a lower tolerance of 2%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>News: The three new external members of the Reserve Bank of India\u2019s Monetary Policy Committee (MPC) will be taking charge at a time when many believe interest rate curve is at an inflection point. 1. Monetary Policy Committee (MPC) is a statutory body under the RBI Act 1934. 2. It is responsible for fixing the&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/new-external-mpc-members-may-keep-markets-guessing\/\">Continue reading <span class=\"screen-reader-text\">New external MPC members may keep markets guessing<\/span><\/a><\/p>\n","protected":false},"author":10357,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[12039],"tags":[],"class_list":["post-312308","post","type-post","status-publish","format-standard","hentry","category-knolls","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/312308","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10357"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=312308"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/312308\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=312308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=312308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=312308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}