Reported by: banking|Updated: September 23, 2016
The government has nominated three financial experts as members of the Monetary Policy Committee (MPC) of the Reserve Bank of India. The appointments committee of the cabinet approved the names of Chetan Ghate, a professor at Indian Statistical Institute; Pami Dua, director at Delhi School of Economics (DSE); and Ravindra Dholakia, professor at Indian Institute of Management, Ahmedabad, as MPC members. There will be six members in MPC and the other three will be from RBI. The first meeting of the committee will be on 4 October. Ghate has been part of the Technical Advisory Committee on monetary policy to RBI while Dua runs a leading indicator project at DSE. They will have a four-year term. The members of the committee from RBI are governor Urjit Patel, deputy governor R. Gandhi and executive director Michael Patra. The RBI governor will have a casting vote in case of a tie.