Question
The Monetary Policy Committee (MP
- C was constituted under which section of the RBI Act?
Solution
The Monetary Policy Committee is constituted under Section 45ZB of the Reserve Bank of India Act, inserted by the Finance Act, 2016. The MPC is responsible for fixing the policy repo rate to achieve the inflation target. It consists of six members, three from the RBI including the Governor (who is the chairperson) and three appointed by the Central Government. Decisions are taken by majority vote, with the Governor having a casting vote.
More Banking Related Laws Questions
- Mortgagor has a right to redeem_____?
- "According to Companies Act till" when shall the President and every other Member of the Tribunal shall hold office from the date on which he enters upon h...
- Under Section 5 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, what is the minimum qualification required for a person to be a...
- For divorce by mutual consent, the petition can be moved to the court if they have been living separately for a period of
- Right to property is a__________.
- Under Section 32, in the absence of a contract to the contrary, the maker of a promissory note and the acceptor of a bill before maturity are bound to pay:
- Section 13(5) of the SARFAESI Act deals with the situation where any person who has acquired secured assets from the borrower makes payment to the secured ...
- Under Civil Procedure Code, 1908 which of the following properties cannot be attached in execution of a decree?
- Under Section 4(1) of the Banking Regulation Act, 1949, the Central Government may, on a representation by the Reserve Bank and if satisfied that it is exp...
- Under Section 45ZD of the RBI Act, 1934, the Members of the Monetary Policy Committee appointed by the Central Government hold office for a period of four ...
