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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

B II and III only

C I and III only

D All of the above

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Relevant for Exams:

UPSC EPFO (APFC)