RBI reconstitutes panel on monetary policy

The Reserve Bank of India (RBI) on Thursday reconstituted the Technical Advisory Committee (TAC) on Monetary Policy. The new external members include former RBI deputy governor Rakesh Mohan and National Institute of Public Finance and Policy professor Sudipto Mundle.

Shankar Acharya, former chief economic advisor to the government and a member of the panel formed in 2009, continues to be part of the reconstituted panel.

The other new external members are Errol D’Souza, professor, Indian Institute of Management Ahmedabad and Ashima Goyal, professor, Indira Gandhi Institute of Development Research (IGIDR), Mumbai. Y H Malegam and Sanjay Labroo, both members of RBI’s central board, are also on the TAC. The TAC was scheduled to continue till June-end. However, its tenure was extended. It would periodically advise RBI on monetary policy in the light of macroeconomic and monetary developments.

D M Nachane, director, IGIDR, Samir Kumar Barua, director, IIM Ahmedabad, P J Nayak, former chairman & managing director, Axis Bank and A Vasudevan, former executive director, RBI were the external members of the original panel.