The government has notified the reconstitution of the Monetary Policy Committee. The Governor of the RBI is the ex-officio Chairperson of the committee. The Deputy Governor of RBI, in charge of monetary policy, and one officer of the RBI to be nominated by the Central Board are also the ex-officio members of the committee. Director of Delhi School of Economics, Professor Ram Singh, Economist  Saugata Bhattacharya, and Director and Chief Executive of the Institute for Studies in Industrial Development, Dr Nagesh Kumar have been appointed as the members of the committee. The committee shall hold office for four years, with immediate effect or until further orders.