CURRENT AFFAIRS

Detailed explanation-1: -India’s MPC consists of three internal members – the Governor as the Chairperson, ex officio; the Deputy Governor in charge of monetary policy as Member, ex officio; and one officer of the Bank to be nominated by the Central Board as Member ex-officio – and three external experts appointed by the Central Government.

Detailed explanation-2: -Meeting of the Monetary Policy Committee, November 3, 2022 Michael Debabrata Patra, Dr. Rajiv Ranjan, Dr. Shashanka Bhide, Dr. Ashima Goyal and Prof.

Detailed explanation-3: -They are appointed for a fixed four year term. Among the three internal members, one is the RBI Governor who chairs the committee. RBI’s deputy governor in charge of the monetary policy is the second internal member. The third member is one RBI official who is nominated by the central board of RBI.

Detailed explanation-4: -The Monetary Policy Committee’s meeting was chaired by Governor Shaktikanta Das and attended by all MPC members Michael Debabrata Patra, Rajiv Ranjan, Shashanka Bhide, Ashima Goyal and Jayanth R. Varma, the RBI said in a statement.