Answer: Six
Notes: The Monetary Policy Committee (MPC) has six members, out of which three are external, and the other three members are RBI governor who is the Chairperson of MPC, the Deputy Governor in charge of monetary policy, and one officer of RBI nominated by the central board. Recently, the Reserve Bank of India’s central board approved the nomination of Rajiv Ranjan as an ex-officio member of the Monetary Policy Committee. He replaces Mridul Saggar, who retired last month.
