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...."AND WHEREAS it is essential to have a modern monetary policy framework to meet the challenge of an increasingly complex economy; AND WHEREAS the primary objective of the monetary policy is to maintain price stability while keeping in mind the objective of growth; AND WHEREAS the monetary policy framework in India shall be operated by the Reserve Bank of India;". - Clauses 2....

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....alled the Monetary Policy Committee of the Bank which shall consist of the Governor of the Reserve Bank of India as a Chairperson, Deputy Governor of the Bank, one officer of the Bank to be nominated by the Central Board and three persons be appointed by the Central Government as Members to the Committee; (iii) section 45ZC to 45ZG deals with the terms and conditions of Members of the Monetary ....