Accordingly, the Central Government in September 2016 constituted the MPC as under:
2. Deputy Governor of the Reserve Bank of India, in charge ofMonetary Policy –Member, ex officio;
3. One officer of the Reserve Bank of India to be nominated by the Central Board – Member, ex officio;
4. Shri Chetan Ghate, Professor, Indian Statistical Institute (ISI) – Member;
5. Professor Pami Dua, Director, Delhi School of Economics – Member; and
6. Dr. Ravindra H. Dholakia, Professor, Indian Institute of Management, Ahmedabad – Member.
Marginal Standing Facility (MSF):
Marginal Standing Facility (MSF):
Corridor:
The MSF rate and reverse repo rate determine the corridor for the daily movement in the weighted average call money rate.
Bank Rate:
Cash Reserve Ratio (CRR):
The average daily balance that a bank is required to maintainwith the Reserve Bank as a share of such per cent of its Net demand and time liabilities (NDTL) that the Reserve Bank may notify from time to time in the Gazette of India.
Statutory Liquidity Ratio (SLR)(CRR):
Changes in SLR often influence the availability of resources inthe banking system for lending to the private sector.
Open Market Operations (OMOs) :
These include both, outright purchase and sale of government securities, for injection and absorption of durable liquidity,respectively.
Market Stabilisation Scheme (MSS) :
capital inflows is absorbed through sale of short-dated government securities and treasury bills.