Government picks three new members to join RBI’s Monetary Policy Committee

The new members are Ram Singh, Saugata Bhattacharya and Nagesh Kumar. They have been appointed for a period of four years.

A worker walks past the logo of Reserve Bank of India inside its office in New Delhi. File | Photo Credit: Reuters

The Central government, on Tuesday (October 1, 2024), appointed new monetary policy committee members with immediate effect.

The new members are Ram Singh, Saugata Bhattacharya and Nagesh Kumar. They have been appointed by the central government for a period of four years.

As per the provisions of the RBI Act, the Monetary Policy Committee (MPC) consists of six members — three members from RBI and three were appointed by the central government.

The three members of RBI are Governor, Deputy Governor and one officer to be nominated by the central board.

The members will be holding office for a period of four years with immediate effect or until further orders, whichever is earlier.

Published - October 01, 2024 08:42 pm IST