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Three Economists added to MPC

The Appointments Committee of Cabinet (ACC) has appointed three economists as the external appointees on the Monetary Policy Committee (MPC). 
•    They are Pami Dua, Chetan Ghate and Ravindra Dholakia. 
•    Pami Dua is an expert on econometrics and forecasting, has a Ph.D. from the London School of Economics. 
•    Chetan Ghate is a macroeconomist and a professor at the Indian Statistical Institute (ISI), Delhi. 
•    Ravindra Dholakia is a faculty member of Economics at the Indian Institute of Management (IIM), Ahmedabad. 
•    With this, MPC consists of three Reserve Bank of India (RBI) representatives and three external appointees. 
•    They will work to decide interest rates. 
•    MPC under the RBI will decide monetary policy by setting interest rates.
•    It aims to bring significant changes in the power the RBI governor while deciding interest rates. 

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