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Monetary Policy Committee (MPC)

News and Press Release - Dated:- 18-11-2016 - The Government has appointed all Members of the . The Monetary Policy Committee(MPC) of the Reserve Bank of India (RBI) has been constituted by the Central Government in accordance with the provisions of the Reserve Bank of India Act, 1934 (RBI Act) and has been notified in the Gazette of India, Extraordinary on 29.9.2016 as follows:- (i) Governor of the Reserve Bank of India-Chairperson, ex officio; (ii) Deputy Governor of the Reserve Bank of India, .....

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or until further orders, whichever is earlier. MPC has tasked with deciding benchmark interest rates. The MPC is entrusted with the task of fixing the benchmark policy rate (repo rate) required to contain inflation within the specified target level, which has been fixed for a period of 5 years upto March, 2021 by the Government at 4% with a range of +/- 2%. The decision of the MPC shall be binding on RBI. MPC is mandated to contain the inflation within the specified target levels. Further, if th .....

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