Current Affairs - Persons - Discussion

The 6 member 25th Monetary Policy Committee (MPC) meeting of Reserve Bank of India(RBI) was held from October 7-9,2020 which was headed by RBI Governor Shaktikant Das. Notably for this meeting, the MPC got three new members replacing earlier ones (Ravindra Dholakia, Pami Dua and Chetan Ghate) as their four-year tenure ended in September 2020. They was appointed as the external members by the Central Government for a four years' term as the MPC members are not eligible for reappointment. The new member are : Dr Ashima Goyal, Economic Advisory Council to the Prime Minister (EAC-PM) member, Shashanka Bhide, Senior Advisor, National Council of Applied Economic Research (NCAER)' professor Jayanth Varma, Indian Institute of Management (IIM)- Ahmedabad (Gujarat). the other two MPC members are Dr. Mridul K. Saggar, and Dr. Michael Debabrata Patra.