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Monetary Policy
What is monetary policy?
Monetary policy is the set of actions taken by a country's central bank to control the money supply and achieve macroeconomic goals such as controlling inflation, managing employment levels, and stabilizing the currency.
What is the primary objective of monetary policy in India?
Maintaining price stability while keeping growth in mind.
Which body is responsible for formulating monetary policy in India?
The Reserve Bank of India (RBI) is responsible for formulating and implementing monetary policy in India, guided by the Monetary Policy Committee (MPC) since 2016.
How many members does the Monetary Policy Committee (MPC) of India have?
Six members — three from RBI and three external.
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