Aiming to review the macroeconomic and monetary developments in the country, the Reserve Bank of India (RBI) has reconstituted the Technical Advisory Committee (TAC) on monetary policy with effect from July 1, 2009.     

Also Read   Related Stories News Now - WPI low but oil prices could pose a problem: Bimal Jalan - Reduce tenure, not EMI, when home loan rates dip - Bajaj Auto launches advanced Pulsar; priced at Rs 70,000 - Karnataka MSME loans restructured - Abheek Barua: The Budget - Checking out and leaving - Andhra Bank launches brand-building initiative   Also Read   Related Stories News Now - Sensex makes remarkable recovery, regains 17K - S C Kalia takes over as Union Bank ED - PNB may acquire majority stake in Kazakh bank - Maoist hindering land acquisition for Tata steel project: Raman - Koda says he will report to ED only after Jharkhand polls More

The tenure of the committee will be for two years up to June 30, 2011, the central bank said in a release.     

The panel will review the monetary developments in the country keeping in mind the macroeconomic scenario and will advise the banking regulator on the stance of monetary policy due on July 28.     

The tenure of the committee constituted on April 2, 2007, is up to June 30, 2009.     

The committee on monetary policy is to periodically advise the Reserve Bank on the stance of monetary policy in the light of macroeconomic and monetary developments. The TAC is an outcome of the central bank's growing emphasis on strengthening the process of monetary policy formulation.      

The panel will be headed by RBI governor D Subbarao and will have deputy governors S Gopinath, Usha Thorat and K C Chakrabarty as its members. It would meet at least once in a quarter, the RBI said.

Other Stories      - Sensex makes remarkable recovery, regains 17K - S C Kalia takes over as Union Bank ED - PNB may acquire majority stake in Kazakh bank - Maoist hindering land acquisition for Tata steel project: Raman - Koda says he will report to ED only after Jharkhand polls More

Tags : RBI | macroeconomic | Technical Advisory Committee | Reserve Bank   Read Business news in  Advertisements   Get financial advisory and solutions for your projects   Holidays starting at a delightful EMI of Rs 3481   Switch on and say hello to Monday morning !   Your dream home can now be a reality.   Visit Fortis for a preventive health check-up & get a 20% discount.   Follow the ups and downs of your investments. Try our new Portfolio Tracker   Kolkata Dock \ Freight contract for the British Gurkhas Nepal   Find how Midsize Businesses use ERP to gain competitive advantage   Trading in Forex is now as easy as 1-2-3   Discover an economical and cost effective way to market your products and services   Giftwithlove.com: Same day delivery of Flowers and Cakes to India   Download the E-book on the Future of Business Intelligence   Learn Best Practices for improving customer satisfaction   Know your customers better... download the free e-book on CRM