Major reshuffle at RBI MPC
The month of October is very important because after the US Federal Reserve recently cut its interest rates, the Reserve Bank of India is also going to announce its bi-monthly monetary policy. Monetary policy impacts people’s EMIs and interest rates on everything from home loans to auto loans. But even before this, the RBI has made a major reshuffle in the Monetary Policy Committee that makes decisions on interest rates.
In the six-member RBI Monetary Policy Committee, three members are from the RBI itself, while three members are external. The RBI on Tuesday informed that 3 new external members have been inducted into the Monetary Policy Committee (MPC). The government has appointed Ram Singh, Saugata Bhattacharya and Nagesh Kumar as new external members of the Monetary Policy Committee of the Reserve Bank of India.
This news is being updated.
