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      Question

      Under Section 45Z-I of the RBI Act, 1934, what is the

      quorum for a meeting of the Monetary Policy Committee?
      A Three members, at least one of whom shall be the Governor Correct Answer Incorrect Answer
      B Two members, including the Governor Correct Answer Incorrect Answer
      C Four members, at least one of whom shall be the Governor Correct Answer Incorrect Answer
      D Five members, including the Governor and a Deputy Governor Correct Answer Incorrect Answer
      E Six members, all of whom must be present Correct Answer Incorrect Answer

      Solution

      Section 45Z-I(5) provides that the quorum for a meeting of the Monetary Policy Committee shall be four members, at least one of whom shall be the Governor, and in his absence the Deputy Governor who is a Member of the Committee. Each member has one vote, and in case of equality of votes the Governor has a second or casting vote. The Bank organises at least four meetings of the Committee in a year. The required quorum is four members.

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