46th session of World Heritage Committee
Global Collaboration in Heritage Conservation
World Heritage Convention
#summit
Global Collaboration in Heritage Conservation
World Heritage Convention
#summit
Monetary Policy Committee (MPC):
Statutory body established under Reserve Bank of India Act, 1934 (RBI Act) in 2016.
Function: Fixing the benchmark policy rate (repo rate) required to contain inflation within 4%, +/- 2%.
Composition:
MPC will have six members - RBI Governor (Chairperson), RBI Deputy Governor, one official nominated by RBI, and the remaining three by the Government of India.
-> The quorum for a meeting shall be four Members, at least one of whom shall be the Governor and, in his absence, the Deputy Governor.
-> The MPC takes decisions based on a majority vote. In case of a tie, the RBI governor will have the second or casting vote.
-> The decision of the MPC would be binding on the RBI.
Monetary policy stance
1) Accommodative- expand the money supply to boost economic growth
2) Neutral- can either cut rate or increase rate
3) Hawkish- hike interest rates to curb money supply to reduce demand
4) Calibrated tightening- During the current rate cycle, a cut in the repo rate is off the table.
Statutory body established under Reserve Bank of India Act, 1934 (RBI Act) in 2016.
Function: Fixing the benchmark policy rate (repo rate) required to contain inflation within 4%, +/- 2%.
Composition:
MPC will have six members - RBI Governor (Chairperson), RBI Deputy Governor, one official nominated by RBI, and the remaining three by the Government of India.
-> The quorum for a meeting shall be four Members, at least one of whom shall be the Governor and, in his absence, the Deputy Governor.
-> The MPC takes decisions based on a majority vote. In case of a tie, the RBI governor will have the second or casting vote.
-> The decision of the MPC would be binding on the RBI.
Monetary policy stance
1) Accommodative- expand the money supply to boost economic growth
2) Neutral- can either cut rate or increase rate
3) Hawkish- hike interest rates to curb money supply to reduce demand
4) Calibrated tightening- During the current rate cycle, a cut in the repo rate is off the table.
Consumer Price Index
-> It measures price changes from the perspective of a retail buyer. The CPI has several sub-groups including food and beverages, fuel and light, housing and clothing, bedding and footwear. Four types of CPI:
1.CPI for Industrial Workers (IW)
2.CPI for Agricultural Labourer (AL)
3.CPI for Rural Labourer (RL).
4.CPI (Rural/Urban/Combined).
-> The first three are published by Labour Bureau, Ministry of Labour and Employment and last by NSO, Ministry of Statistics and Programme Implementation.
-> CPI-IW is mainly used for determining dearness allowance (DA) paid to central/state government employees and workers in the industrial sectors besides measuring inflation in retail prices, fixation and revision of minimum wages in scheduled employments.
-> Base year- 2016
-> It measures price changes from the perspective of a retail buyer. The CPI has several sub-groups including food and beverages, fuel and light, housing and clothing, bedding and footwear. Four types of CPI:
1.CPI for Industrial Workers (IW)
2.CPI for Agricultural Labourer (AL)
3.CPI for Rural Labourer (RL).
4.CPI (Rural/Urban/Combined).
-> The first three are published by Labour Bureau, Ministry of Labour and Employment and last by NSO, Ministry of Statistics and Programme Implementation.
-> CPI-IW is mainly used for determining dearness allowance (DA) paid to central/state government employees and workers in the industrial sectors besides measuring inflation in retail prices, fixation and revision of minimum wages in scheduled employments.
-> Base year- 2016
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Consider the following statements:
1. Natural gas occurs in the Gondwana belts.
2. Mica occurs in abundance in Kodarma. 3. Dharwars are famous for petroleum. Correct? BPSC WEB
1. Natural gas occurs in the Gondwana belts.
2. Mica occurs in abundance in Kodarma. 3. Dharwars are famous for petroleum. Correct? BPSC WEB
Anonymous Quiz
9%
1&2
47%
Only 2
41%
1,2&3
3%
None
Most important BIHAR SPECIAL current affairs questions(JUNE to 15th JULY 2024) 👇👇👇
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