Question

Which Act provides the powers to constitute Monetary

Q: Answer-Which Act provides the powers to constitute Monetary Policy Committee?

The Monetary Policy Committee MPC constituted by the Central Government under Section 45ZB of RBI Act 1934. It determines the policy interest rate required to achieve the inflation target.

Policy Committee?

A RBI Act, 1934

B Banking Regulation Act, 1949

C FEMA, 1999

D A and C

E A and B

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Which Act provides the powers to constitute Monetary

Solution