With reference to the Monetary Policy Committee, consider the following statements:
1. It is a constitutional and institutionalized framework under the Reserve Bank of India Act, 1934.
2. The Deputy Governor of RBI is the ex-officio Chairman of the committee.
3. RBI-appointed committee led by the then deputy governor Urjit Patel in 2014 recommended the establishment of the Monetary Policy Committee.
Which of the above statement is/are correct?
1
1 and 2 only
2
1 only
3
3 only
4
1, 2, and 3