UPSC CSE Mains Syllabus: GS-3- Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.

Monetary Policy Committee – Structure and Functioning

On October 1, the Reserve Bank of India’s Monetary Policy Committee (MPC) was supposed to announce the country’s key interest rates and the monetary policy for the next two months. This will have to wait as the government is yet to appoint three new members at a time when the pandemic is raging, GDP growth is floundering and borrowers are bracing for a mega loan restructuring process.

What is MPC:

Functions of the MPC:

Assessment of its functioning so far:

Delay and its impacts:


What are the objectives of the Monetary Policy Committee (MPC)? Give an assessment of the functioning of the MPC.