December 2016 Current Affairs

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Union Government notifies constitution of Monetary Policy Committee

Union Government notifies constitution of Monetary Policy Committee
30 September 2016 Current Affairs: The Union Government has notified the constitution of the Monetary Policy Committee (MPC) on 29 September 2016.

The Reserve Bank of India Act, 1934 (RBI Act) has been amended by the Finance Act, 2016,  to provide for a statutory and institutionalised framework for a Monetary Policy Committee, for maintaining price stability.

As per the provisions of the RBI Act, out of the six Members of Monetary Policy Committee, three Members will be from the RBI. The other three Members of MPC will be appointed by the Central Government.

n exercise of the powers conferred by section 45ZB of the Reserve Bank of India Act, 1934, the Union Government has accordingly constituted the Monetary Policy Committee of RBI, with the following composition:

  1. The Governor of the Bank: Chairperson, ex officio

  2.  Deputy Governor of the Bank, in charge of Monetary Policy: Member, ex officio

  3. One officer of the Bank to be nominated by the Central Board: Member, ex officio

  4. Chetan Ghate, Professor, Indian Statistical Institute (ISI): Member

  5. Pami Dua, Director, Delhi School of Economics (DSE): Member 

  6. Ravindra H. Dholakia, Professor, Indian Institute of Management (IIM) Ahmedabad: Member


The Members of the Monetary Policy Committee appointed by the Union Government will hold office for a period of four years, with immediate effect or until further orders, whichever is earlier.

 


December 2016 Current affairs

November 2016 Current affairs
30 NOV
NEWS
29 NOV
NEWS
28 NOV
NEWS
26 NOV
NEWS
25 NOV
NEWS
24 NOV
NEWS




October 2016 Current affairs
31 OCT
NEWS
27 OCT
NEWS
26 OCT
NEWS
25 OCT
NEWS
24 OCT
NEWS
22 OCT
NEWS

September 2016 Current affairs
30 SEP
NEWS
29 SEP
NEWS
28 SEP
NEWS
27 SEP
NEWS
26 SEP
NEWS
24 SEP
NEWS

August 2016 Current affairs
31 AUG
NEWS
30 AUG
NEWS
29 AUG
NEWS
27 AUG
NEWS
26 AUG
NEWS
25 AUG
NEWS



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