Which of the following statements is/are correct regarding the Monetary Policy Committee (MPC)? 1. It decides the RBI's benchmark interest rates. 2. It is a 12-member body including the Governor of RBI and is reconstituted every year. 3. It functions under the chairmanship of the Union Finance Minister. Select the correct answer using the code given below:
A1 only
B1 and 2 only
C3 only
D2 and 3 only
Answer & Solution
Correct answer: C. 3 only
UPSC CSE Prelims 2017 (GS-I, Set C), Q.11. Official answer key: C.
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