Key Points
The RBI appointed three new external members to its monetary policy committee, who influenced the shift to a 'neutral' stance on growth, despite differing views on the 6.5% repo rate..
The Reserve Bank of India had on Oct 1 appointed Ram Singh, Saugata Bhattacharya and Nagesh Kumar as the new external members to the Reserve Bank of Indias (RBI) monetary policy committee..
Former MPC members Goyal and Varma were the voices of dissent in MPCs stance to keep rates unchanged in recent monetary policy meetings as they advocated for rate cuts..
Ahead of the policy decision this time, economists had said the new faces (Ram Singh, Nagesh Kumar and Saugata Bhattacharya) in the six-member monetary policy committee didnt have much time to call for rate cuts..
Kumar has served on the boards of various institutions, including the Export-Import Bank of India, the International Centre for Trade and Sustainable Development (ICTSD) in Geneva, and the South Asia Centre for Policy Studies (SACEPS) in Kathmandu..
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