{"id":8712,"date":"2022-10-01T05:48:02","date_gmt":"2022-10-01T00:18:02","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=8712"},"modified":"2025-03-29T04:39:14","modified_gmt":"2025-03-28T23:09:14","slug":"monetary-policy-review","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/monetary-policy-review\/","title":{"rendered":"Monetary Policy Review"},"content":{"rendered":"<h2><strong>About:<\/strong><\/h2>\n<ul>\n<li>It raised the\u00a0repo rate\u00a0(or the rate at which it lends money to the banking system) by 50 basis points (or 0.5 percentage points).\u00a0<\/li>\n<li>It has cut India\u2019s GDP growth rate for the current financial year (2022-23) from 7.2% to 7%.<\/li>\n<li>The MPC retained the retail inflation projection for the current fiscal year at 6.7%.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><strong>Monetary Policy Committee<\/strong><\/h2>\n<ul>\n<li>The Monetary Policy Committee of India is responsible for\u00a0fixing the policy interest rate, to achieve the objectives of monetary policy.<\/li>\n<li><strong>Composition:<\/strong><\/li>\n<li>Three officials of the Reserve Bank of India, with Governor of RBI as Chairperson, ex officio<\/li>\n<li>Three external members appointed by the Government of India<\/li>\n<li>The external members hold office for a period of four years.<\/li>\n<li>Decisions of the MPC\u00a0are taken on the basis of majority, with Governor having the casting vote in case of a tie.<\/li>\n<li>The MPC meets\u00a0least 4 times a year and it publishes its decisions after each such meeting.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><strong>Source :\u00a0<\/strong><a href=\"https:\/\/epaper.thehindu.com\/Home\/ShareArticle?OrgId=GOCABGSDP.1&amp;imageview=0\" target=\"_blank\" rel=\"nofollow noopener\">The Hindu<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Monetary Policy Committee of India is responsible for fixing the policy interest rate&#8230;.<\/p>\n","protected":false},"author":5,"featured_media":8713,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-8712","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/8712","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=8712"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/8712\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/8713"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=8712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=8712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=8712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}