Govt appoints 3 members to interest-rate setting Monetary Policy Committee

Zee Media Bureau

New Delhi: The government on Thursday appointed three members to the interest-rate setting Monetary Policy Committee (MPC) for four years.

In a notification, the government said that Indian Statistical Institute professor Chetan Ghate, Delhi School of Economics director Pami Dua and Ravindra Dholakia of IIM- Ahmedabad will be the three nominees on the committee.

ACC approves appointment of Prof. Chetan Ghate, ISI, Prof Pami Dua, Director, DSE & Dr.R.H. Dholakia, Prof, IIM Ahmedabad. as Members of MPC — Ministry of Finance (@FinMinIndia) September 22, 2016

MPC, which will take over the job of setting interest rate, will have six members, with the government and the Reserve Bank of India (RBI) appointing three persons each.

The Appointments Committee of the Cabinet (ACC) cleared the three eminent experts as members on the MPC for a period of four years. RBI nominees will include, governor, a deputy governor and one more person from the central bank.