The bi-monthly GIPE Shadow Monetary Policy Committee (MPC) is a student-led academic simulation designed to closely replicate the monetary policy formulation process undertaken by the Reserve Bank of India. In this simulation, six GIPE students act as MPC members, along with a Chairperson, and announce a Monetary Policy a week before the scheduled announcement by RBI Governor before students and faculty
This initiative offers students valuable exposure beyond the classroom and fosters critical thinking on contemporary macro-financial issues.
Over successive editions, the quality of research, deliberation, and policy articulation has shown consistent improvement, reflecting the cumulative learning embedded in the exercise. A distinctive feature of the initiative is its peer-learning framework, wherein the Chairperson of the preceding Shadow MPC becomes part of the MPC Secretariat and mentors the subsequent committee. This institutional continuity enables students to collectively refine analytical skills and present increasingly nuanced policy stances.
The RBI Chair Unit, GIPE, is pleased to note that the second and third editions of the GIPE Shadow MPC were successfully conducted on November 28, 2025, and January 30, 2026, respectively. On both occasions, the Chairperson and MPC members presented their policy reports before senior representatives from financial institutions, FinTech experts, and academicians, thereby offering participants an authentic and immersive experience closely aligned with the real-world monetary policy process of the RBI.
GIPE SMPC -1: Policy Announcements – 25 September 2025
GIPE SMPC -2: Policy Announcements – 28 November 2025
GIPE SMPC -3: Policy Announcements – January 30, 2026
