Reserve Bank of India: Changes have been made in the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI). This important committee has the responsibility of deciding the interest rates in the country. There are 6 members in this committee. Of these, 3 are members of RBI. Apart from this, 3 are appointed by the Central Government. This major change has been made before the important meeting of MPC which is going to be held in the beginning of October. This time, Professor Ram Singh, Saugata Bhattacharya and Dr. Nagesh Kumar have been included in the MPC.
Will remain part of MPC for 4 years
The Central Government has made this change using the powers granted under the Reserve Bank of India Act, 1934. Now the MPC includes RBI Governor Shaktikanta Das, Deputy Governor in charge of monetary policy, an official of the Reserve Bank, Professor Ram, Director of Delhi School of Economics, renowned economist Saugata Bhattacharya and Institute for Studies. Nagesh Kumar of Institute for Studies in Industrial Development will be included. RBI Governor Shaktikanta Das will be the chairperson of this committee. According to 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 interest rates. The US Federal Reserve has already reduced interest rates. He has also indicated that he will continue reducing interest rates in 2025 also. RBI Governor Shaktikanta Das can also take this decision like the Federal Reserve. However, it has also been claimed in some media reports that Shaktikanta Das may not take a decision on interest rates at present and postpone it till the MPC meeting to be held in December.
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