Reserve Bank of India Act, 1934

Failure to maintain inflation target Where the Bank fails to meet the inflation target, it shall set out in a report to the Central Government— (a)   the reasons for failure to achieve the inflation target; (b)   remedial actions proposed to be taken by the Bank; and (c)   an estimate of the time-period […]

Monetary Policy Report. (1) The Bank shall, once in every six months, publish a document to be called the Monetary Policy Report, explaining— (a)   the sources of inflation; and (b)   the forecasts of inflation for the period between six to eighteen months from the date of publication of the document. (2) The form

Publication of proceedings of meeting of Monetary Policy Committee. The Bank shall publish, on the fourteenth day after every meeting of the Monetary Policy Committee, the minutes of the proceedings of the meeting which shall include the following, namely:— (a)   the resolution adopted at the meeting of the Monetary Policy Committee; (b)   the

Publication of decisions The Bank shall publish, after the conclusion of every meeting of the Monetary Policy Committee, the resolution adopted by the said Committee; ]

Steps to be taken to implement decision of Monetary Policy Committee. (1) The Bank shall publish a document explaining the steps to be taken by it to implement the decisions of the Monetary Policy Committee, including any changes thereto. (2) The particulars to be included in such document and the frequency of publications of such

Meetings of Monetary Policy Committee 1) The Bank shall organise at least four meetings of the Monetary Policy Committee in a year. (2) The meeting schedule of the Monetary Policy Committee for a year shall be published by the Bank at least one week before the first meeting in that year. (3) The meeting schedule

Information for Monetary Policy Committee Members. (1) The Bank shall provide all information to the Members of the Monetary Policy Committee that may be relevant to achieve the inflation target. (2) In addition to information provided by the Bank under sub-section (1), any Member of the Monetary Policy Committee may, at any time, request the

Secretary to Monetary Policy Committee (1) The Bank shall appoint a Secretary to the Monetary Policy Committee to provide secretariat support to the said Committee. (2) The Secretary shall perform such functions and in such manner as may be specified by the regulations made by the Central Board.]

Vacancies, etc., not to invalidate proceedings of Monetary Policy Committee. No act or proceeding of the Monetary Policy Committee shall be invalid merely by reason of— (a)   any vacancy in, or any defect in the constitution of the Monetary Policy Committee; or (b)   any defect in the appointment of a person acting as

Removal of Members of Monetary Policy Committee 1) The Central Government may remove from office any Member of the Monetary Policy Committee appointed under clause (d) of sub-section (2) of section 45ZB, who— (a)   is, or at any time has been, adjudged as an insolvent; or (b)   has become physically or mentally incapable