Home / Knowledge / News / Textiles / Govt begins process to form Monetary Policy Committee
Govt begins process to form Monetary Policy Committee
28
Jun '16
To add value and transparency to monetary policy decision, the Government of India has initiated process to constitute Monetary Policy Committee (MPC) under the Reserve Bank of India Act, 1934 (RBI Act).

The RBI Act has been amended by the Finance Act, 2016 to provide for a statutory and institutionalised framework for a MPC with a view to maintain price stability, while keeping in mind the objective of growth.

The MPC will have six members, of which three members will be from the RBI, including the governor, who will be the ex-officio chairperson, and the RBI deputy governor.

The other three members of MPC will be appointed by the Central government, on the recommendations of a Search-cum-Selection Committee, which will be headed by the Cabinet Secretary. These three members will be experts in the field of economics or banking or finance or monetary policy and will be appointed for a period of 4 years and shall not be eligible for re-appointment.

The meetings of the MPC shall be held at least 4 times a year and it shall publicise its decisions after each such meeting. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

May 31 deadline for registration of chemicals under REACH

Textiles | On 23rd May 2018

May 31 deadline for registration of chemicals under REACH

May 31 is the final deadline for companies to register all chemicals...

US cotton production projected to decline in 2018: USDA

Textiles | On 23rd May 2018

US cotton production projected to decline in 2018: USDA

US cotton production is forecast at 19.5 million bales, nearly 7 per...

Pakistan's textile exports up 8.13% in July-April FY18

Textiles | On 23rd May 2018

Pakistan's textile exports up 8.13% in July-April FY18

The value of textile and garment exports from Pakistan increased by...

Interviews View All

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search