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Monetary Policy

Which body has the authority to set the policy repo rate under India's current monetary policy framework?
The Monetary Policy Committee (MPC) sets the policy repo rate, with the RBI Governor casting a deciding vote in case of a tie.
How does monetary policy primarily aim to promote economic growth?
By influencing money supply to achieve growth with price stability
In what year was India's monetary policy framework amended to give the MPC the mandate to set the policy repo rate?
India's amended RBI Act gave the MPC this mandate in 2016.
What is the role of Reserve Money as a policy indicator in monetary transmission?
It is a proximate observable variable signalling corrective action before money supply changes
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