#RBI #PMC #inflation #indiangovernment #government
The Reserve Bank of India’s Monetary Policy Committee has met today to finalise a report for the government on why it failed to keep retail inflation below the target of 6 per cent for three consecutive quarters since January this year, said sources. The report will be presented to the government as per the Reserve Bank of India Act, they added. The six-member Monetary Policy Committee (MPC) is headed by RBI Governor Shaktikanta Das. The other members include Shashanka Bhide, Honorary Senior Advisor at National Council of Applied Economic Research, Delhi; Ashima Goyal, Emeritus Professor at Indira Gandhi Institute of Development Research, Mumbai and Jayanth R Varma, Professor at Indian Institute of Management, Ahmedabad as well as RBI Deputy Governor Michael Debabrata Patra and RBI Executive Director Rajiv RanjanWatch this video to find out the details. The next bi-monthly meeting of MPC is scheduled to be held from December 5th to 7th.
The meeting is expected to be about drafting an explanation failing to adhere to inflation target. RBI has not been able to adhere to inflation target for three quarters.

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