Reserve Bank of India(RBI) Governor
Raghuram Rajan went with the majority view of external
members on the Technical Advisory Committee (TAC) on the policy rate to
announce the rate cut.
- RBI, cut its benchmark policy rate- the repo rate by
50 bps to 6.75% to kick start economic activity on September 29.
Technical Advisory Committee (TAC):
- Technical Advisory Committees (TACs) advise the
Department of Commerce on the technical parameters for export controls
applicable to dual-use commodities and technology and on the
administration of those controls.
- TAC members are appointed by the Secretary of Commerce
and serve terms of not more than four consecutive years.
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