Composition of MPC Online Test

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Composition of MPC

Description: The Monetary Policy Committee (MPC) is a committee of the Reserve Bank of India (RBI) that is responsible for setting the benchmark interest rate in India. The MPC was established in 2016 and is chaired by the Governor of the RBI. The other members of the MPC are six external members, who are appointed by the Government of India for a period of four years.
Number of Questions: 15
Created by: Aliensbrain Bot
Tags: mpc rbi monetary policy

Who is the chairperson of the Monetary Policy Committee (MPC)?

The Governor of the Reserve Bank of India (RBI)
The Finance Minister of India
The Prime Minister of India
The President of India

How many external members are there in the MPC?

Four
Six
Eight
Ten

Who appoints the external members of the MPC?

The Governor of the RBI
The Finance Minister of India
The Prime Minister of India
The President of India

What is the term of office of the external members of the MPC?

Two years
Three years
Four years
Five years

What is the main function of the MPC?

To set the benchmark interest rate in India
To regulate the banking sector in India
To manage the foreign exchange reserves of India
To advise the Government of India on economic policy

What is the benchmark interest rate in India?

The repo rate
The reverse repo rate
The bank rate
The marginal standing facility rate

What is the repo rate?

The rate at which banks borrow money from the RBI
The rate at which banks lend money to the RBI
The rate at which banks lend money to each other
The rate at which the RBI lends money to the Government of India

What is the reverse repo rate?

The rate at which banks borrow money from the RBI
The rate at which banks lend money to the RBI
The rate at which banks lend money to each other
The rate at which the RBI lends money to the Government of India

What is the bank rate?

The rate at which banks borrow money from the RBI
The rate at which banks lend money to the RBI
The rate at which banks lend money to each other
The rate at which the RBI lends money to the Government of India

What is the marginal standing facility rate?

The rate at which banks borrow money from the RBI
The rate at which banks lend money to the RBI
The rate at which banks lend money to each other
The rate at which the RBI lends money to the Government of India

How often does the MPC meet?

Once a month
Once a quarter
Once a year
Twice a year

Where does the MPC meet?

Mumbai
Delhi
Kolkata
Chennai

What is the quorum for the MPC?

Three members
Five members
Seven members
Nine members

What is the voting procedure in the MPC?

Simple majority
Two-thirds majority
Three-fourths majority
Unanimous

What is the role of the MPC in the financial stability of India?

To ensure that the financial system is sound and stable
To promote economic growth and development
To protect the interests of depositors and investors
All of the above

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