https://www.taxtmi.com/acts?id=21345 A new Chapter establishes an inflation-targeting framework and a binding Monetary Policy Committee (MPC) that sets the Policy Rate to meet the Consumer Price Index inflation target. The MPC comprises Bank ex officio members including the Governor and three externally appointed members selected via a Search-cum-Selection Committee; external members serve fixed non-renewable terms, are subject to specified disqualifications and removal grounds, and receive prescribed remuneration. The Bank must provide secretariat support and relevant information, hold regular meetings with quorum and voting rules, publish decisions, minutes and semiannual Monetary Policy Reports, and report to the Central Government if the inflation target is missed. en-us Sat, 07 May 2016 10:13:50 +0530 Wed, 03 May 2017 15:05:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=21345 A new Chapter establishes an inflation-targeting framework and a binding Monetary Policy Committee (MPC) that sets the Policy Rate to meet the Consumer Price Index inflation target. The MPC comprises Bank ex officio members including the Governor and three externally appointed members selected via a Search-cum-Selection Committee; external members serve fixed non-renewable terms, are subject to specified disqualifications and removal grounds, and receive prescribed remuneration. The Bank must provide secretariat support and relevant information, hold regular meetings with quorum and voting rules, publish decisions, minutes and semiannual Monetary Policy Reports, and report to the Central Government if the inflation target is missed. Act-Rules F. Acts / Amendment Acts Sat, 07 May 2016 10:13:50 +0530 https://www.taxtmi.com/acts?id=21345