............In India, in the context of global market integration and increasing demand from media, there has been a significant progress in removing the mystique surrounding monetary policy as reasoned by YV Reddy (2008). RBI ensures a high degree of transparency about its objectives, policy formulation, and decision making as it helps to increase the effectiveness of monetary policy by promoting more informed decision making by economic agents. RBI’s communication policy involves regular publications, monetary policy documents, research studies and special speeches. In all cases, RBI’s communication has been improving over the years, especially in terms of number of speeches delivered by the top management across the world, mainly in India...............
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