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Reserve Bank of India’s Monetary Policy Committee: 7 things you need to know!

Last updated on - October 4, 2016, 2:33 PM IST

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It is an executive body of six members that will decide on the policy rate for Reserve Bank of India.

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Urijit Patel (RBI Governor), R. Gandhi, Michael Patra (RBI Executive Director) and academicians, Chetan Ghate, Pami Dua and Ravindra H Dholakia.

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The major mandate of the committee is to keep inflation within the central point of 4 per cent for the next five years.

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MPC escalates transparency and brings a collective approach to the inflation problem.

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It will bring about stability in the country’s financial system and attract more investors.

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Apart from inflation rate, RBI still gets to decide everything else like issues like liquidity, cash reserve ratio, statutory liquidity ratio, etc.

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It comprises of well esteemed and experienced academicians who have studies and observed market trends for years and know best about it.

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