Govt appoints Shashank Bhide, Ashima Goyal and Jayant Verma as new MPC members
The government has appointed economists Shashank Bhide, Ashima Goyal, and Jayanth R Varma as independent members of the Monetary Policy Committee. The finance ministry issued a notification to this effect late Monday.
Shashank Bhide is currently a senior advisor at the New Delhi-based think tank National Council for Applied Economic Research, while Goyal is a professor at the Indira Gandhi Institute of Development Research in Mumbai. Jayant R Varma is currently a professor at the Indian Institute of Management, Ahmedabad.
Their appointment had been cleared by the Appointments Committee of the Cabinet chaired by Prime Minister Narendra Modi. The panel is chaired by the RBI governor and has as members deputy governor in charge of monetary policy and one RBI official appointed by the central board. The term of the independent members will be for a period of four years or until further order, whichever is earlier.