Indian government names Shashanka Bhide, Ashima Goyal, Jayanth Varma as new MPC members

By Aftab Ahmed

NEW DELHI (Reuters) – The Indian government named Shashanka Bhide, Ashima Goyal and Jayanth Varma as its nominees on the central bank’s monetary policy committee (MPC) late on Monday.

The Reserve Bank of India was forced to delay the bi-monthly committee meeting set to take place from Sept. 29 to Oct. 1, as it required at least four MPC members to proceed and the Indian government had failed to name replacements for three previous appointees whose tenure ended in September.

The committee, of three government nominees and three RBI members, had been scheduled to announce India’s key interest rates and monetary policy for the next two months on Oct. 1.

The new members have been appointed for a four-year term, according a government notification.

Ashima Goyal is a member of Indian Prime Minister Narendra Modi’s economic advisory council. Goyal is a professor at the Indira Gandhi Institute

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