Under the Reserve Bank of India Act 1934, as amended by the Finance Act 2016, the Monetary Policy Committee comprises how many members?

The Finance Act 2016 amended the Reserve Bank of India Act 1934 to provide a statutory basis for monetary policy, and Section 45ZB of the Act constitutes a Monetary Policy Committee consisting of six members. Three members are from the Reserve Bank, namely the Governor, the Deputy Governor in charge of monetary policy and one officer of the Bank nominated by the Central Board, and the other three are appointed by the Central Government on the recommendations of a search-cum-selection committee. The MPC determines the policy repo rate required to achieve the inflation target, which the Central Government has notified at four per cent with a tolerance band of two percentage points. Committees of four, five, seven or nine members do not match the composition fixed by Section 45ZB.