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    Question

    Which of the following statements is/are incorrect

    regarding the Monetary Policy Committee (MPC)? I.            It decides the RBI’s benchmark interest rates. II.            It is a 12-member body including the Governor of RBI and is reconstituted every year. III.            It functions under the chairmanship of the Union Finance Minister.
    A I and II only Correct Answer Incorrect Answer
    B II and III only Correct Answer Incorrect Answer
    C I and III only Correct Answer Incorrect Answer
    D All of the above Correct Answer Incorrect Answer

    Solution

    Explanation: It is a 6 member body including the Governor of RBI and it functions under the chairmanship of The Governor of RBI.

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