The RBI act provides for how many members in RBI Monetary Policy Committee (MPC)?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 6.
The Reserve Bank of India (RBI) Act mandates that the Monetary Policy Committee (MPC) consists of six members. This includes three members from the RBI, specifically the Governor, who serves as the Chairperson, and two other officials. Additionally, the committee comprises three external members appointed by the government, chosen for their expertise in economics and finance. The MPC is responsible for formulating monetary policy with the objective of maintaining price stability while also considering the overall economic growth of the country.