Multiple Choice Questions on Consider the following statements with respect to the Monetary Policy Committee MPC The RBI Governor........... for General Knowledge ( All Exams) Preparation

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Multiple Choice Questions

Consider the following statements with respect to the Monetary Policy Committee MPC The RBI Governor...........

Economic and Social Issues Inflation Trends
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    Consider the following statements with respect to the Monetary Policy Committee(MPC)

    1. The RBI Governor chairs the committee and enjoys a veto power.
    2. Members of the MPC will be appointed for a period of four years and shall not be eligible for reappointment.
    3. No government official will be nominated to the MPC.

    Select the correct statement.

    2 only

    Incorrect Answer

    1&2 only

    Incorrect Answer

    2&3 only

    Correct Answer

    3 only

    Incorrect Answer
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    Explanation:
    • The RBI Governor will chair the committee.
    • The governor does not enjoy a veto power to overrule the other panel members but will have a casting vote in case of a tie.
    • The committee will have six members. Of the six members, the government will nominate three. No government official will be nominated to the MPC.
    • The other three members would be from the RBI with the governor being the ex-officio chairperson.
    • Members of the MPC will be appointed for a period of four years and shall not be eligible for reappointment.

    Hence only statements 2&3 are correct.

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