The Modi government named Shashanka Bhide, Ashima Goyal and Jayanth Varma as its nominees on the central bank’s monetary policy committee (MPC) late on Monday.
Earlier, the Reserve Bank of India had to cancel it’s bi-monthly committee meeting scheduled from September 29 to October 1, as it required at least four MPC members to conduct the meeting, wherein, there were no timely replacements by the government for three previous appointees whose tenure ended in September.
The committee, of three government nominees and three RBI members, had been scheduled to announce the country’s key interest rates and monetary policy for the next two months on October 1.
All the three new members have been appointed for a four-year term and, while, Ashima Goyal is a member of Prime Minister Narendra Modi’s economic advisory council, Shashanka Bhide is a senior advisor at the National Council for Applied Economic Research, a New Delhi-based think-tank, and Jayanth Varma is a finance and accounting professor at the Indian Institute of Management, Ahmedabad.
