Question

Consider the following statements with reference to the Monetary Policy Committee (MP

Q: Answer-Consider the following statements with reference to the Monetary Policy Committee (MPC): I. It is C...

Reserve Bank of India said that it will call a special meeting of its Monetary Policy Committee MPC soon explaining the reasons for the average retail inflation remaining above the upper tolerance limit of 6 for three consecutive quarters. Constituted by RBI under section 45ZB of the Reserve Bank of India RBI Act, 1934. Chaired by the Governor of RBI. Mission Fixing the benchmark policy interest rate repo rate to restrain inflation within the particular target level 2 to 6. MPC conducts meetings at least 4 times a year. The monetary policy is published after every meeting with each member explaining his opinions.

C : I. It is Constituted by RBI under the Reserve Bank of India (RB
I Act, 1934. II. It is Chaired by the Governor of RBI. III. MPC conducts meetings at least 3 times a year. Which of the following statements is/are not correct?