Monetary Policy Committee (MPC)
▪ The Reserve Bank of India (RBI) nominated its Executive Director Indranil Bhattacharyya as an exofficio member of the Monetary Policy Committee (MPC).
▪ The Monetary Policy Committee (MPC) is a statutory body established to set India’s benchmark policy interest rate (repo rate).
▪ Formed in 2016 under the provisions of the RBI Act, 1934 (amended in 2016).
▪ It is an institutionalised inflation targeting framework in India.
▪ The Governor of RBI serves as the ex-officio Chairperson of the MPC.
Structure of Organisation
▪ 6 members in total:
✓ 3 members from the RBI (Governor, Deputy Governor in charge of monetary policy, and one Executive Director).
✓ 3 external members nominated by the Central Government.
Sports
▪ 16th Asian Shooting Championship
✓ Venue: Shymkent, Kazakhstan
✓ India-Aishwari Pratap Singh Tomar – Gold
▪ U-17 Football Tournament
✓ Venue: Thimphu, Bhutan
✓ Team India wins
