Monday, July 28, 2014

Monetary policy and its formulation may undergo a sea change

..................Much to the chagrin of the Reserve Bank of India and its authorities, the central government has started the process to rework the monetary policy formulation in line with the Indian Financial Code as suggested by the Financial Sector Legislative Reforms Commission. The objective is to come up with modern monetary policy framework with clearly set targets, accountability in decision making and actions open to judicial review.............

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