GoI appoints three new economists as RBI’s MPC members

The Government of India has appointed three new economists as members of the six-member rate-setting Monetary Policy Committee(MPC) of the Reserve Bank of India (RBI). The authorities had shaped a committee for collection of these three new members of MPC. This search-cum-selection committee for MPC was headed by Economic Affairs Secretary Tarun Bajaj.


The new members are:

  • Prof. Ashima Goyal, a professor on the Mumbai-based Indira Gandhi Institute of Developmental Research
  • Prof. Jayanth R Varma, a professor of finance on the Indian Institute of Management in Ahmedabad
  • Dr. Shashanka Bhide, an agricultural economist and a senior adviser with the National Council of Applied Economic Research in New Delhi

About Monetary Policy Committee

  • MPC committee of RBI includes six members which embrace three officers of the Reserve Bank of India and three exterior members nominated by the Government of India.
  • The three members from RBI Side are Dr. Mridul K. Saggar, Dr. Michael Debabrata Patra and Shri Shaktikanta Das.
  • Governor of RBI is the Ex-Officio Chairman of MPC.
  • They change the three earlier exterior MPC candidates, Chetan Ghate, Ravindra Dholakia and Pami Dua, whose phrases expired with the final coverage assembly in August 2020.

Important takeaways for all aggressive exams: 

  • RBI twenty fifth Governor: Shaktikant Das; Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.

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