Monetary Policy Committee Members Pdf – Dear Readers, Here we are Providing the details about Monetary Policy, Monetary Policy Committee Members, Instruments of Monetary Policy, Current Repo Rate, Reverse Repo, CRR, SLR Rates, which will be asked for 1 or 2 Marks in all bank Exams like IBPS CWE, RRB, SBI Bank PO/ Clerk Exams under Banking Awareness/ General Awareness with special reference to banking industry. Candidates can also download Monetary Policy Committee Members Pdf from the link given below.
Monetary policy refers to the use of instruments under the control of the central bank to regulate the availability, cost and use of money and credit.
Monetary policy refers to the policy of the central bank (Reserve Bank of India RBI) with regard to the use of monetary instruments under its control to maintain price stability while keeping in mind the objective of growth.
Monetary Policy Committee Members Pdf
The Monetary Policy Committee (MPC) constituted by the Central Government under Section 45ZB determines the policy interest rate required to achieve the inflation target.
Section 45ZB of the amended RBI Act, 1934 also provides for an empowered six-member monetary policy committee (MPC) to be constituted by the Central Government by notification in the Official Gazette. Accordingly, the Central Government in September 2016 constituted the MPC as under:
- Urjit Patel, Governor of the Reserve Bank of India – Chairperson, ex officio;
- R Gandhi, Deputy Governor of the Reserve Bank of India, in charge of Monetary Policy – Member, ex officio;
- Michael Patra, One officer of the Reserve Bank of India to be nominated by the Central Board – Member, ex officio;
- Shri Chetan Ghate, Professor, Indian Statistical Institute (ISI) – Member;
- Professor Pami Dua, Director, Delhi School of Economics – Member; and
- Dr. Ravindra H. Dholakia, Professor, Indian Institute of Management, Ahmedabad – Member.
(Members referred to at 4 to 6 above, will hold office for a period of four years or until further orders, whichever is earlier.)
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Instruments of Monetary Policy
There are several direct and indirect instruments that are used for implementing monetary policy.
Current Repo Rate, Reverse Repo, CRR, SLR Rates
|Reverse Repo Rate|
|Marginal Standing Facility Rate MSF|
|Cash Reserve Ratio CRR|
|Statutory Liquidity Ratio SLR|
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Monetary Policy Committee Members Pdf – Banking Awareness 2017