New external MPC members to be announced by Sept 28; extension ruled out

The Centre has shelved the idea of giving a short extension to the three external members in the rate-setting monetary policy committee (MPC) of the Reserve Bank of India (RBI). After exploring the possibilities, a decision has been taken to appoint a fresh team of external members, a senior finance ministry official told Business Standard. Names of the new members are likely to be announced by September 28. The next policy deliberations are scheduled for September 29 to October 1, and the MPC will have to on-board new members before that. According to finance ministry .....

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