The Monetary Policy Committee (MPC) of the RBI is primarily tasked with maintaining price stability while keeping in mind the objective of growth, by targeting a specific:
Under the current flexible inflation targeting framework, the RBI's Consumer Price Index (CPI) inflation target is set at 4%, with a tolerance band of:
The rate of interest that the RBI offers to commercial banks when they park their surplus/excess funds with it (historically through the reverse repo mechanism) is called the:
Since April 2022, the RBI has primarily used which facility, rather than the reverse repo rate, as its main tool to absorb excess liquidity from the banking system?
The Cash Reserve Ratio (CRR) refers to the minimum percentage of a bank's net demand and time liabilities (deposits) that it must keep as cash reserves with:
