Who among the following formulates the monetary policy of the Government of India?
Governor of RBI
Monetary policy in India — the control of money supply, interest rates and inflation — is formulated by the Reserve Bank of India.
The policy is finalised by the six-member Monetary Policy Committee, which is chaired by the Governor of the RBI, who also serves as the Committee's final-vote authority. The Prime Minister, Finance Minister and President have no direct role in setting monetary policy; the Finance Ministry handles fiscal policy, not monetary.
Hence, the monetary policy is formulated by the Governor of RBI.
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