UPSC Prelims GS - 2017

Question 86
MEDIUM
Correct:
+2
Incorrect:
-2

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:

    a
    1 only
    b
    1 and 2 only
    c
    3 only
    d
    2 and 3 only