Discussion
Now who decides the monetary policy of India?
Answer: C
Correct answer: Monetary Policy Committee
Since 2016 the policy repo rate has been set by a six-member Monetary Policy Committee, chaired by the Governor, with three members from the Reserve Bank and three appointed by the Government, and the Governor holding a casting vote. The Committee works to an inflation target set by the Government. Before this the decision rested with the Governor alone, so the answer to this question changed in 2016.
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