Who sets India's repo rate? The six-member MPC structure GS3 Economy keeps testing
Experts expect RBI to raise rates by 0.25% in October policy
Why in News? Inflation and crude prices push expectations of a rate hike.
Prelims The Monetary Policy Committee has six members: three from the RBI (including the Governor as chair) and three external members appointed by the Central Government.
Mains GS3 Economy: Monetary policy. Imported inflation from crude oil and tighter global rates strain price stability, and the MPC under the RBI Act, 1934 r…














