Monetary Policy Committee of the Reserve Bank of India
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The Monetary Policy Committee of the Reserve Bank of India is a six-member body responsible for setting India's benchmark interest rates and formulating monetary policy to achieve inflation and growth objectives.
Aliases (2)
Statements (49)
| Predicate | Object |
|---|---|
| instanceOf |
Decision‑making body
→
Monetary policy committee → |
| areaServed |
India
→
|
| chairperson |
Governor of the Reserve Bank of India
→
|
| composition |
Six members
→
|
| country |
India
→
|
| decisionRule |
Majority voting
→
|
| establishedBy |
Government of India
→
Reserve Bank of India → |
| hasFeature |
Each member has one vote
→
Governor of RBI has casting vote in case of tie → |
| hasMemberFrom |
Government of India
→
Reserve Bank of India → |
| hasType |
Statutory committee
→
|
| headquarters |
Mumbai
→
Reserve Bank of India Central Office, Mumbai → |
| inflationTarget |
4 percent CPI inflation
→
|
| inflationToleranceBand |
Plus or minus 2 percentage points
→
|
| jurisdiction |
Republic of India
→
|
| languageOfWork |
English
→
Hindi → |
| legalAmendment |
Amendments to RBI Act in 2016
→
|
| legalBasis |
Reserve Bank of India Act, 1934
→
|
| location |
Mumbai
→
|
| meetingFrequency |
Bi‑monthly (approximately every two months)
→
|
| meets |
At least four times a year
→
|
| objective |
Price stability
→
Supporting growth → |
| parentOrganization |
Reserve Bank of India
→
|
| partOf |
Reserve Bank of India
→
|
| policyFramework |
Flexible inflation targeting framework
→
|
| publishes |
Minutes of meetings with individual member votes
→
Resolution of monetary policy decision → |
| regulates |
Monetary policy of India
→
|
| relatedConcept |
Monetary Policy Report of the Reserve Bank of India
→
|
| relatedTo |
Financial markets in India
→
Ministry of Finance, Government of India → |
| reportsTo |
Government of India
→
|
| responsibleFor |
Achieving inflation target in India
→
Formulating monetary policy in India → Setting benchmark policy interest rate in India → Supporting economic growth in India → |
| sector |
Central banking
→
Public finance → |
| usesInstrument |
Marginal standing facility rate
→
Policy corridor → Repo rate → Reverse repo rate → Standing deposit facility rate → |
Referenced by (2)
| Subject (surface form when different) | Predicate |
|---|---|
|
Indian rupee
→
|
monetaryPolicyCommittee |
|
Reserve Bank of India
("Monetary Policy Committee of India")
→
|
oversees |