The six-member Monetary Policy Committee (MPC) led by the governor of Reserve Bank of India, Urjit Patel released monetary policy on 2nd August. This is RBI’s third monetary policy for the financial year 2017-18. The second monetary policy was released in the month of June. Here we are presenting some highlights of bi-monetary policy which is important for every exam. Banking aspirants must go through the below points and strengthen their preparation.
Monetary Policy Committee is a committee of Reserve bank of India. The committee is headed by Governor of the RBI. The committee is responsible for making monetary policy and fixing other important benchmark rates. The committee has six members the RBI Governor, the RBI Deputy Governor in charge of monetary policy, one official nominated by the RBI Board and the remaining three members would represent the Government of India.
Here are the major highlights of RBI’s monetary policy for August 2017.
The fourth bi monthly policy will be released in the month of October.