Consider the following statements regarding the "Monetary Policy Committee". i. The RBI Governor has to vote both in the first instance and in case of a tie. ii. The monetary policy committee has to meet three times a year. Choose the correct answer:

Explanation

This question asks us to evaluate two specific statements about the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC). Statement 'i' claims: "The RBI Governor has to vote both in the first instance and in case of a tie." Let's break this down: The Monetary Policy Committee (MPC) consists of six members, including the RBI Governor, who serves as the Chairperson.