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    Question

    Which Act provides the powers to constitute Monetary

    Policy Committee?
    A RBI Act, 1934 Correct Answer Incorrect Answer
    B Banking Regulation Act, 1949 Correct Answer Incorrect Answer
    C FEMA, 1999 Correct Answer Incorrect Answer
    D A and C Correct Answer Incorrect Answer
    E A and B Correct Answer Incorrect Answer

    Solution

    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.

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