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The composition of the current monetary policy committee is as follows: [1] Governor of the Reserve Bank of India – Chairperson, ex officio - Sanjay Malhotra; Deputy Governor of the Bank in charge of monetary policy – Michael Debrata Patra [6] Executive Director of the Bank in charge of monetary policy – Rajiv Ranjan [7]
The Reserve Bank of India Act, 1934 (RBI Act) was amended by the Finance Act, 2016, to provide a statutory and institutionalised framework for a Monetary Policy Committee, for maintaining price stability, while keeping in mind the objective of growth. The Monetary Policy Committee is entrusted with the task of fixing the benchmark policy rate ...
Until the Monetary Policy Committee was established in 2016, [7] it also had full control over monetary policy in the country. [8] It commenced its operations on 1 April 1935 in accordance with the Reserve Bank of India Act, 1934. [9] The original share capital was divided into shares of 100 each fully paid. [10]
Patra is a 1985 batch RBI Grade B officer. [4] [5] Before his appointment as deputy governor, Patra served as the executive director of the monetary policy department of RBI—where he moved to in 2006—and as such, was an internal member of the powerful Monetary Policy Committee.
Monetary Policy Committee (India) R. RBI Monetary Museum This page was last edited on 17 January 2024, at 17:53 (UTC). Text ...
India adopted International Monetary Fund's stabilization program during his governorship. 19 C. Rangarajan: 22 December 1992 — 21 November 1997 4 years, 334 days Rangarajan is an economist who served as the deputy governor of RBI prior to becoming the governor. His governorship oversaw the establishment of unified exchange rate.
Watch Pete Hegseth's confirmation hearing. The hearing is expected to begin Tuesday at 9:30 a.m. ET, according to the Armed Services Committee website, which says it will have a live video.
With a view to provide focused attention and enable development of techno-banking in the country, the institute has promoted a new Section 8 company named The Indian Financial Technology and Allied Services (IFTAS). Headquartered in Mumbai, the mandate of the IFTAS is to provide IT-related services to the RBI, banks and other financial ...