The Reserve Bank of India will be free to use the instruments at its disposal to steer monetary policy under a new inflation targeting regime agreed with the finance ministry, the ministry's economic adviser Arvind Subramanian said on Monday.
The RBI will have freedom to use its instruments for monetary transmission, Mr Subramanian told reporters after the central bank and the government struck a pact to shift to a policy framework based on targeting consumer price inflation.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.