Read the following Statements and answer the question:  India’s inflation target of 4 % ± 2 % is jointly set by RBI and the Ministry of Finance every five years.  The Monetary Policy Committee (MP

The MPC is mandated by the amended RBI Act, 1934, to meet at least four times a year to review the policy repo rate. While the legal requirement is four, the committee typically meets six times a year (bi-monthly) to assess inflation and growth, with a quorum of four members.     Under Section 45ZA of RBI Act , i nflation target is notified by Central Government in consultation with RBI . It is r eviewed every 5 years . It is currently set at  inflation target of 4 % ± 2 % , last reviewed in 2021 for  five years.     The Monetary Policy Committee (MPC) has six members,  with 3 members from RBI and 3 external members.  T he Governor  of RBI is the ex-officio Chairman of the MPC and holds  a casting vote .