RBI’s Acharya: ‘fundamental reform’ to fix transmission

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The Reserve Bank of India is considering a “fundamental reform” that could help to free up the monetary transmission mechanism, Viral Acharya said on November 16.

Pass-through of the policy rate to actual lending rates was still not satisfactory, the RBI deputy governor told an audience at the Tata Institute of Fundamental Research.

The RBI is weighing a two-pronged approach that could see banks switch to a new benchmark for setting their lending rates, alongside the central bank’s broader

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