 "Reserve Bank of India (RBI) Governor Raghuram Rajan gestures as he answers a question from the audience after delivering his keynote address at the \"Advancing Asia: Investing for the Future\" conference in New Delhi")
The government is said to be working towards nominating its three members to the Monetary Policy Committee (MPC) as soon as possible, a significant development in light of the Reserve Bank of India Governor Raghuram Rajan's recent comment that he would like MPC to be set up before his tenure ends.
On Monday, Rajan had said at a meeting of central bankers and regulators in Indonesia that he was trying to ensure that the MPC is established before his three-year tenure ends in the first week of September. "It is important that this framework is in place. I'm working very hard to get this in place before I leave," Rajan had said.
