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    <description>Constitution of a Monetary Policy Committee under the Reserve Bank of India Act comprising ex officio Reserve Bank members-the Governor (Chairperson), the Deputy Governor responsible for monetary policy, and a Central Board nominated officer-and three appointed external members (Prof. Ashima Goyal, Prof. Jayanth R. Varma, Dr. Shashanka Bhide), with the appointed members to hold office for four years or until further orders.</description>
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