https://www.taxtmi.com/news?id=16873 The Government constituted the Monetary Policy Committee under the Reserve Bank of India Act, assigning it responsibility to fix the benchmark policy rate with decisions binding on the Reserve Bank. The MPC must contain inflation within a government-specified target and, if average inflation breaches the tolerance band for three consecutive quarters, the RBI must report to the Central Government reasons for failure, proposed remedial actions and an estimated timeframe for meeting the target. en-us Fri, 18 Nov 2016 17:55:14 +0530 Fri, 18 Nov 2016 17:55:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=16873 The Government constituted the Monetary Policy Committee under the Reserve Bank of India Act, assigning it responsibility to fix the benchmark policy rate with decisions binding on the Reserve Bank. The MPC must contain inflation within a government-specified target and, if average inflation breaches the tolerance band for three consecutive quarters, the RBI must report to the Central Government reasons for failure, proposed remedial actions and an estimated timeframe for meeting the target. News - Fri, 18 Nov 2016 17:55:14 +0530 https://www.taxtmi.com/news?id=16873