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NDA 2021 GAT · General Knowledge · Indian Economy · hard

The Monetary Policy Committee, which sets India's policy interest rate, consists of how many members?

Single correct option

The Monetary Policy Committee, which sets India's policy interest rate, consists of how many members?
  1. A. Five
  2. B. Seven
  3. C. Six
  4. D. Nine
Show answer and solution

Answer: (C) Six

The Monetary Policy Committee, constituted in 2016 under the RBI Act, has six members: three from the RBI (including the Governor as chairperson) and three external members appointed by the Centre. The Governor has a casting vote in a tie. The committee aims at inflation targeting of 4 percent with a band of plus or minus 2 percent.
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Original question written in the NDA 2021 GAT pattern and checked twice for the correct answer. Not an official question paper. How we write and check questions · Corrections policy · Report a mistake