BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

Please wait while the activity loads.
If this activity does not load, try refreshing your browser. Also, this page requires javascript. Please visit using a browser with javascript enabled.

If loading fails, click here to try again

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Recently, an Expert Panel on Monetary Framework set up by the RBI recommended to strengthen and revise the current monetary policy framework. The Expert Panel was headed by?

A	Raghuram G Rajan
B	Peter J. Montiel
C	Rupa Nitsure
D	Urjit Patel

Explanation:

Detailed explanation-1: -Raghuram Rajan set up an Expert Committee in 2013 to Review and Strengthen the Monetary Policy Framework (RBI 2014; Chairman: Dr Urjit R Patel).

Detailed explanation-2: -The Monetary Policy Committee The MPC determines the policy repo rate required to achieve the inflation target.

Detailed explanation-3: -The committee made the following main recommendations: Control inflation through controlling the Consumer Price Index (CPI), A majority, not an individual, will be held accountable for decision-making, and Set a goal for better decision-making implementation.

Detailed explanation-4: -Urijit Patel Committee first proposed the idea for the formation of a five-member Monetary Policy Committee.

Detailed explanation-5: -Repo rate is the rate at which the central bank of a country lends money to commercial banks. Repo rate is used by monetary authorities to control inflation.

There is 1 question to complete.