First, I would like to talk about the challenges to our policy making in the context of the developments in the recent years, both global and domestic, that warranted robust data and research support. Second, I would highlight some of the important contributions of the research department in these turbulent times.
The guidelines for MMMFs were announced by the Reserve Bank in April 1992. The Reserve Bank had made several modifications in the scheme to make it more flexible and attractive to banks and financial institutions. These guidelines were subsequently incorporated into the revised SEBI regulations.