Monetary Policy Committee: RBI changed members of MPC
Changes have been made in the Monetary Policy Committee (MPC) of the reserve bank of india (RBI). This important committee is responsible for deciding the interest rates in the country. The committee has 6 members. Out of these, 3 are members of RBI. Apart from this, 3 are appointed by the central government. This big change has been made before the important meeting of MPC to be held in early October. professor Ram Singh, Saugata Bhattacharya and Dr. nagesh Kumar have been included in this time's MPC.
Will be part of MPC for 4 years
The central government has made this change using the powers given under the reserve bank of india Act, 1934. Now the MPC will include RBI governor Shaktikanta Das, Deputy governor in charge of Monetary Policy, an official of the Reserve Bank, director of delhi School of economics professor Ram, renowned economist Saugat Bhattacharya and nagesh Kumar of the Institute for Studies in Industrial Development. RBI governor Shaktikanta Das will be the chairperson of this committee. As per the order of the central government, all of them will hold this post for 4 years.
Monetary Policy Committee meeting from 7th
The meeting of the Monetary Policy Committee will start from the 7th of this month. Its result is going to come on 9th October. It is believed that this time RBI can give good news by reducing the interest rates. The US Fed Reserve has already reduced the interest rates. Also indicated that he will continue to reduce interest rates in 2025 as well. RBI governor Shaktikanta Das can also take this decision like the Fed Reserve. However, some media reports have also claimed that Shaktikanta Das may not take a decision on interest rates at the moment and may postpone it till the MPC meeting in December.