SHILLONG: With an aimed to make people understand especially the students on the essence of monetary policy formulation Special Monetary Policy Dissemination programme,“Framework of Monetary Policy in India”, especially for the North-Eastern states was organised by the Departments of Economics, Business Administration and Commerce of the College, at St. Anthony’s College here on Friday.
Speaking at the occasion Executive Director of RBI central office Deepak Mohanty highlighted the recent changes in the framework as well as in the operating procedure of monetary policy in the country.
“The RBI has been relying more and more on indirect method of control through interest rate mechanism although broad money supply continues to remain as an important information variable along with a host of other indicators under the multiple indicator approach,” he added.
Besides, Adviser in the RBI Monetary Policy Department, Dr B.K. Bhoi while giving a gist on the challenges amidst uncertainties while drafting the Monetary Policy for 2013-2014, explained about the global and domestic challenges faced by the RBI while formulating the Annual Monetary Policy for 2013-14.
According to Bhoi, the RBI could not be more aggressive in cutting policy rates as inflation remained above the comfort level of RBI and the current account deficits (CAD) having aggravated to a historically high level.
Meanwhile, Sangeeta Das, who is the Director in the Department of Communication, RBI delivered a lecture on the requirement of the proper communication mechanism so that all stakeholders can have adequate information about the policy pursued by RBI.(SP News)
