Del. HC Stresses Mandatory Legal Assistance to Preserve Fairness and Integrity of Criminal Trials  ||  Supreme Court: Delhi High Court Ruling upheld on Taekwondo National Sports Federation Recognition  ||  SC: Blockchain-Based Digitisation of Land Records Necessary to Reduce Property Document Litigation  ||  Supreme Court to NCLT : Limit Power to Decide Intellectual Property Title Disputes under IBC  ||  Bombay HC: Railway Employee With Valid Privilege Pass is Bona Fide Passenger Despite Missing Entries  ||  Delhi High Court: Mere Pleadings Made To Prosecute or Defend a Case Do Not Amount To Defamation  ||  Delhi High Court: Asking an Accused To Cross-Examine a Witness Without Legal Aid Vitiates The Trial  ||  Delhi High Court: Recruitment Notice Error Creates No Appointment Right Without Vacancy  ||  Supreme Court: Subordinate Legislation Takes Effect Only From its Publication in The Official Gazette  ||  Supreme Court: DDA Must Adopt a Litigation Policy To Screen Cases and Avoid Unnecessary Filings    

Monetary Policy Committee constitution under the Reserve Bank of India Act, 1934 notified- (Press Information Bureau) (29 Sep 2016)

MANU/PIBU/0786/2016

Civil

The Reserve Bank of India Act, 1934 (RBI Act) has been amended by the Finance Act, 2016, to provide for a statutory and institutionalised framework for a Monetary Policy Committee, for maintaining price stability, while keeping in mind the objective of growth. The Monetary Policy Committee would be entrusted with the task of fixing the benchmark policy rate (repo rate) required to contain inflation within the specified target level. A Committee-based approach for determining the Monetary Policy will add lot of value and transparency to monetary policy decisions. The meetings of the Monetary Policy Committee shall be held at least 4 times a year and it shall publish its decisions after each such meeting.

The provisions of the RBI Act relating to Monetary Policy have been brought into force through a Notification in the Gazette of India Extraordinary on 27.6.2016. The factors constituting failure to meet inflation target under the Monetary Policy Committee Framework have also been notified in the Gazette on 27.6.2016. As per the provisions of the RBI Act, out of the six Members of Monetary Policy Committee, three Members will be from the RBI and the other three Members of MPC will be appointed by the Central Government. The Members of the Monetary Policy Committee appointed by the Central Government shall hold office for a period of four years, with immediate effect or until further orders, whichever is earlier.

Tags : COMMITTEE   CONSTITUTION  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved