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22
September 2016
Three
academics from the country's top institutions have been named the government
nominee members to the Monetary Policy Committee that has been mandated to
ensure the country's retail inflation stays within a band of 4 percent, plus or
minus two percentage points. The Total
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The names,
cleared by the Appointments Committee of the Cabinet, are: Chetan Ghate,
Professor at the Indian Statistical Institute; Pami Dua, Director at Delhi
School of Economics; and Ravindra Dholakia, Professor at the Indian Institute
of Management, Ahmedabad. The Total
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On its part,
the Reserve Bank of India (RBI) has already named its set of three
representatives to the six-member committee -- the Governor, at present Urjit
Patel who is also the chair with a casting vote, Deputy Governor R. Gandhi and
Executive Director Michael Patra. The
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With the
full membership of the panel in place, the next bi-monthly monetary policy
update of the Reserve Bank of India, scheduled on October 4, is expected to go
by the recommendations of this panel, including a call on interest rates,
officials said. The Total Investment
& Insurance Solutions
The
government had said its three members will be experts in the field of
economics, banking, finance or monetary policy and will be appointed for a
period of four years -- and will not be eligible for re-appointment. The Total Investment & Insurance
Solutions
The panel is
to meet at least four times a year and publicise its decisions after each
meeting.The Total Investment &
Insurance Solutions
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