Which of the following statements is/are correct about

Solution

Composition of MPC          I.            MPC will be a 6 member committee: ·          3 members will be from RBI. These 3 members would include the governor who will also be the ex-officio chairperson of the committee. ·         3 members will be appointed by the central govt. These members should be experts in the field of finance or banking or economics or monetary policy. They will have tenure of 4 years and will not be eligible for reappointment. ·         The members appointed by the govt. will be appointed based on the recommendations by the search-cum-selection committee which will be headed by the cabinet secretary.        II.            Decisions will be taken by majority vote with each member having a vote      III.            The governor will not enjoy a veto power to overrule the other panel members, but will have a casting vote in case of a tie.     IV.            No government official will be nominated to the MPC MPC meets on a bi-monthly basis now. The quorum for the meeting of the MPC is four members.