Mumbai: With the appointment of government nominees, the committee that will decide India’s monetary policy is in place. While RBI has a history of working with the technical advisory committee (TAC), the terms of engagement with the new monetary policy committee (MPC) will be different. The amended RBI Act says MPC members can now request at any time, “additional information, including any data, models or analysis”. Fourth, the role of the central bank governor and her/his deputies will also change under the new regime. The amended RBI Act says that the panel “shall determine the policy rate required to achieve the inflation target”.

Source: Mint September 25, 2016 18:22 UTC