The Reserve Bank of India on Tuesday said the monetary Policy Committee (MPC) of the rate-setting panel will be held for three days beginning October 7.
The announcement by the Central bank comes after the government filled the vacancies of three external members in the committee.
“The next meeting of the Monetary Policy Committee (MPC) is scheduled during October 7 to October 9, 2020,” RBI said in a statement on Tuesday.
On September 28, the RBI had postponed the meeting of the MPC, which must have a quorum of four, as the appointment of independent members was delayed.
“…the next meeting of the Monetary Policy Committee (MPC) is scheduled during October 7 to October 9, 2020,” it said in a statement.
The government on Monday appointed three eminent economists Ashima Goyal, Jayanth R. Varma and Shashanka Bhide as members of the Monetary Policy Committee of the RBI.
Ashima Goyal is a member of Prime Minister Narendra Modi’s economic advisory council.
Jayanth Varma is a finance and accounting professor at the Indian Institute of Management, Ahmedabad. Shashanka Bhide is a senior advisor at the National Council for Applied Economic Research.
The new members replace Chetan Ghate, Pami Dua, and Ravindra Dholakia. They were appointed on the panel for four years on September 29, 2016.