..........A very specific communication exercise — and this what this article is really about — by the Reserve Bank of India — has all the ingredients for an excellent case study. On July 30, while reviewing its credit policy, it issued its guidance — its assessment of what the monetary stance would be in the future. Of particular interest to all was when the RBI will roll back its liquidity squeezing measures it had announced in instalments a few weeks ahead of the policy to curb volatility in the rupee..........
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