Under the proposed the new Monetary Policy Committee, how many members are included in the committee?
What is the number of members in the proposed Monetary Policy Committee?
After several months of discussions, the Ministry of Finance and the Reserve Bank of India have decided to form a 5-member committee to decide the monetary policy of the country. The government will nominate 2 members and RBI will nominate 3 memebers. Each member of the committee will have one vote and the RBI governer, chair of the committee will have a casting vote.