Monetary Policy Committee UPSC
Concept: Monetary Policy Committee Topic: Monetary Policy Category: Economy Related News: Hindu, June 20 CNA mentions: 1(June 20) Monetary Policy Committee The Monetary Policy Committee (MPC) is a committee constituted by India’s RBI (Reserve Bank of India), lead by its Governor, which is assigned with the mission of fixing the benchmark policy interest rate (repo rate) to restrain inflation within the particular target level. The MPC substitutes the current system of things where the RBI governor, with the support and advice of the internal team under him and a technical advisory committee controls the monetary policy decisions by all means. The concept was in the news recently. To know why it was in the news, click the above link titled ‘Related News’.