A change of guard at the Reserve Bank of India

It’s time for change in the way that the Reserve Bank of India will set monetary policy and we’ll get a sense of how that’ll pan out starting this Tuesday, 5th of October. Breaking from hallowed tradition, the central bank shall now discuss and set monetary policy measures within the confines of a new Monetary Policy Committee (MPC). The MPC is to comprise 6 members, 3 from the bank and 3 nominees of the government. There is indeed a lot of excitement that this change has brought in its wake. I’ll not be surprised if we have all variety of economists and writers talking about the Hawks and Doves in this MPC. Continue reading