https://www.taxtmi.com/news?id=16477 A statutory framework establishes a Monetary Policy Committee (MPC) of six members-three Reserve Bank members including the Governor as Chair and three external experts appointed by the Central Government-who serve four year terms. The MPC meets at least quarterly, publicly discloses decisions, and is tasked with fixing the benchmark policy rate to contain inflation within a notified target and tolerance band. Persistent deviation beyond the band for three consecutive quarters triggers a statutory reporting obligation by the Reserve Bank to explain causes, propose remedial actions and estimate time to re achieve the target. en-us Fri, 05 Aug 2016 17:15:48 +0530 Fri, 05 Aug 2016 17:15:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=16477 A statutory framework establishes a Monetary Policy Committee (MPC) of six members-three Reserve Bank members including the Governor as Chair and three external experts appointed by the Central Government-who serve four year terms. The MPC meets at least quarterly, publicly discloses decisions, and is tasked with fixing the benchmark policy rate to contain inflation within a notified target and tolerance band. Persistent deviation beyond the band for three consecutive quarters triggers a statutory reporting obligation by the Reserve Bank to explain causes, propose remedial actions and estimate time to re achieve the target. News - Fri, 05 Aug 2016 17:15:48 +0530 https://www.taxtmi.com/news?id=16477