Civil Services APPSC Group I Services Prelims Mock Test Series 2025 Current Affairs Business and Economy
Consider the following statements regarding the Monetary Policy Committee (MPC):
1. The Monetary Policy Committee (MPC) was constituted under Section 45ZB of the amended RBI Act, 1934.
2. The MPC determines the Policy Rate required to achieve the inflation target.
3. The decisions of the Monetary Policy Committee are advisory and not binding on the Reserve Bank of India (RBI).
Which of the statements given above is/are correct?
1
1 and 2 only
2
1 and 3 only
3
2 and 3 only
4
1, 2, and 3