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Bicameral Legislature

Monetary Poli...

Question

Monetary Policy Committee was setup on the recommendation of ____________

A

Urjit Patel committee

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B

Raghuram rajan committee

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Solution

The correct option is A Urjit Patel committee
The setting up of a committee to decide on Monetary Policy was first proposed by the Urjit Patel Committee. The Committee suggested a five-member MPC - three members from the RBI and two nominated by the Government

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Q. Monetary Policy Committee was setup based on the recommendation of ________

Q.  In the context of the recommendations made by the Urjit Patel committee , which of the following is correct?

1. To adopt the new Consumer Price Index (CPI) for anchoring the monetary policy.
2. Set the inflation target at 4% with a band of +/- 2% .
3. Monetary policy decision making should be vested in a Monetary Policy Committee (MPC) headed by the Governor.

Q. The government has named ___ outside experts as members of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), moving to a model followed in the developed world.

Who is the Head of the Monetary Policy Committee?

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