MP High Court: Estranged Husband Entitled to Loss of Consortium Compensation After Wife’s Death  ||  J&K & Ladakh HC: Claims under Roshni Act Void Ab Initio, Ownership Rights Null from Inception  ||  Madras High Court Directs Expedited Trials in 216 Pending Criminal Cases Against MPs and MLAs  ||  MP High Court: Allowing Minor to Drive Without Valid License Constitutes Breach of Insurance Policy  ||  Punjab & Haryana High Court: Cyber Fraud Cases Uphold Public Trust, Cannot Be Quashed by Compromise  ||  SC: Customer-Banker Relationship Based on Mutual Trust, Postmaster’s Reinstatement Quashed  ||  Supreme Court: Company Buying Software for Efficiency and Profit Is Not a ‘Consumer’ under CPA  ||  SC: Long Custody or Trial Delay Not Ground for Bail in Commercial Narcotic Cases if S.37 Unmet  ||  Calcutta HC Disqualifies Politician Mukul Roy from Assembly under Anti-Defection Law  ||  Supreme Court Bans Mining in and Around National Parks and Wildlife Sanctuaries    

Constitution of Monetary Policy Committee under way- (Reserve Bank of India) (27 Jun 2016)

MANU/PIBU/0508/2016

Banking

The Central government brought in force provisions enabling constitution of the Monetary Policy Committee on 27 June 2016.

The Rules govern the selection, appointment and terms of service of members of the Committee. Three of its six members will be from the Reserve Bank of India and the remaining will be chosen for their expertise in economics, banking and monetary policy.

The Committee, envisaged in Finance Act 2016, is seen as the means to maintain price stability, while balancing sufficient growth.

The central government also notified factors constituting failure to achieve the inflation target under Section 45ZN of the RBI Act 1934: average inflation greater than upper tolerance level of target, or less than the lower tolerance level of target, for three consecutive quarters.

Relevant : Summary of Consultation with Technical Advisory Committee MANU/RPRL/0168/2016 MPC Members’ Rules MANU/EAFF/0105/2016 Factors for failure to achieve the inflation target MANU/EAFF/0106/2016

Tags : MONETARY POLICY COMMITTEE   MEMBERS   RBI   INFLATION  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved