Six days ahead of the crucial meeting of the interest rate-setting panel, the government on Tuesday appointed three external members to the reconstituted Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI).
The three external members are: Delhi School of Economics Director Ram Singh, economist Saugata Bhattacharya, and Nagesh Kumar, director and chief executive, Institute for Studies in Industrial Development (ISID). They will replace outgoing external members Jayanth Varma, Ashima Goyal, and Shashank Bhide. The RBI Act doesn’t allow reappointment of external members.
The other three members in the six-member MPC are from within the