The primary objective of the MPC is to maintain price stability, which is defined as keeping inflation within a specified target range.

The MPC meets bi-monthly, typically every six weeks, to review and adjust monetary policy as needed.

The Governor of the Reserve Bank of India serves as the chairperson of the Monetary Policy Committee.

Four external members are appointed to the Monetary Policy Committee by the Government of India.

Members of the Monetary Policy Committee serve a term of four years.

The repo rate is the main instrument used by the MPC to influence monetary policy.

Increasing the repo rate makes it more expensive for banks to borrow money from the central bank, which in turn leads to higher interest rates for businesses and consumers.

Decreasing the repo rate makes it less expensive for banks to borrow money from the central bank, which in turn leads to lower interest rates for businesses and consumers.

The MPC has a target inflation range of 2-4% for India.

The MPC monitors the exchange rate and takes appropriate actions to ensure that it remains stable and does not adversely affect the economy.

The MPC is responsible for ensuring that banks have adequate capital and liquidity, regulating the financial sector, and monitoring systemic risks and taking appropriate actions to promote financial stability.

The MPC is appointed by the Government and is accountable to the Government, but it is also independent in its decision-making.

MPC's decisions can lead to fluctuations in stock prices, as changes in interest rates and other monetary policy actions can affect the profitability and valuation of companies.

MPC's decisions can have a significant impact on economic growth, as changes in interest rates and other monetary policy actions can affect investment, consumption, and overall economic activity.

MPC's decisions can have a significant impact on inflation, as changes in interest rates and other monetary policy actions can affect the demand for goods and services and the overall price level.