Reconstitution of the Technical Advisory Committee on Monetary Policy

The composition of the reconstituted Committee will be as under:

Chairman	Dr. D. Subbarao Governor, Reserve Bank of India
Vice-Chairman	Dr Subir Gokarn Deputy Governor-in-Charge Monetary Policy Department
Members	Deputy Governors
	Dr. K.C. Chakrabarty Shri Anand Sinha Shri H.R. Khan
	Two Members of the Committee of the Central Board (CCB)
	Shri Y.H. Malegam Shri Sanjay Labroo
	External Members
	Dr. Shankar Acharya Hon. Professor Indian Council for Research on International Economic Relations New Delhi
	Dr. Rakesh Mohan Professor
	Practice of International Economics of Finance, School of Management, and Senior Fellow, Jackson Institute of Global Affairs Yale University New Haven, Connecticut US
	Prof. Sudipto Mundle Emeritus Professor National Institute of Public Finance and Policy New Delhi
	Prof. Errol D’Souza Professor Indian Institute of Management Ahmedabad
	Prof. Ashima Goyal Professor Indira Gandhi Institute of Development Research Mumbai
In Attendance:	Shri Deepak Mohanty Executive Director
	Adviser-in-Charge, Monetary Policy Department, Reserve Bank of India
	Advisers, Monetary Policy Department, Reserve Bank of India
	O-in-C, Department of Economic and Policy Research, Reserve Bank of India

Monetary Policy Department would be the secretariat to the Committee.

The objective of the TAC on Monetary Policy is to periodically advise the Reserve Bank on the stance of monetary policy in the light of macroeconomic and monetary developments. The TAC is an outcome of the Reserve Bank’s growing emphasis on strengthening the process of monetary policy formulation.

The terms of reference of the Committee are:

1. To review macroeconomic and monetary developments, and
2. To advise on the stance of monetary policy.

The Committee meets at least once in a quarter. The tenure of the Committee would be up to June 30, 2013.

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