New-look RBI's MPC set to take rate call amid cuts by global banks

RBI's MPC has six members - three are from within RBI: Governor, deputy governor in charge of monetary policy, and one more officer from RBI who is nominated by the central board of RBI

The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) meets every two months, but the October meeting holds significance for a variety of reasons -- not only because it takes place against the backdrop of leading global central banks cutting rates, but also because the panel will have three new faces.

The MPC has six members, of whom three are from within the central bank: The governor, deputy governor in charge of monetary policy, and an officer nominated by the central board of the regulator.

The three external members are appointed by the central