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Which committee recommended the establishment of the Monetary Policy Committee (MPC) in India?

medium Q6 of 15
Financial Awareness - Risk, Stability & Emerging Finance
Which committee recommended the establishment of the Monetary Policy Committee (MPC) in India?
ARangarajan Committee
BNarasimham Committee I
CUrjit Patel Committee
DNarasimham Committee II
Step-by-Step Solution
  1. Step 1: Identify committee related to monetary policy reforms

    The Monetary Policy Committee (MPC) was recommended to bring transparency and accountability in monetary policy decisions.
  2. Step 2: Match with the correct committee

    Urjit Patel Committee (2013) recommended the establishment of the MPC with inflation targeting framework.
  3. Final Answer:

    Urjit Patel Committee → Option C
  4. Quick Check:

    Monetary Policy Committee recommendation = Urjit Patel Committee ✅
Quick Trick: Urjit Patel Committee = MPC recommendation.
Common Mistakes:
  • Confusing MPC recommendation with Rangarajan Committee's monetary policy suggestions.
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