Who are the 6 Members of the Monetary Policy?

Six Members of Monetary Policy

Six people make up the Monetary Policy Committee: three employees of the Reserve Bank of India and three outsiders selected by the Government of India. For "extreme confidentiality", they must observe a "quiet period" for seven days before and after rate setting.

• The Finance Act (India), 2016 amended the Reserve Bank of India Act, 1934 to create a Monetary Policy Committee (MPC), which would enhance accountability and transparency in the formulation of India's monetary policy.
• After each meeting, the monetary policy is published with the comments of each member.
• If inflation exceeds the target limit for three consecutive quarters, the committee will have to answer to the Government of India.
• Six people make up the monetary policy committee.
• Three officers belong to the RBI, and the central government has nominated three external members.
• The Governor of RBI acts as the chairman of this committee. Dr. Shaktikanta Das is presently the Chairman.

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