RBI’s Mohanty on success of new monetary policy framework

rbi-tower

Deepak Mohanty, an executive director at the Reserve Bank of India (RBI), on Friday said the central bank's new monetary policy operating framework had improved the policy effectiveness, but that further challenges remained.

On May 3, the RBI announced a revised monetary policy operating procedure, which improved upon the liquidity adjustment facility (LAF) framework and recognised the weighted average overnight call money rate as an explicit monetary policy operating target.

At the Indian

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