That this strategy has been relatively successful is borne out by the data (Table 1), but it may have reached its limit, as also demonstrated by the deterioration in the reach of formal credit in the 1990s. The key issue now is how to mainstream rural credit from institutional sources so as to achieve wider coverage, expand financial inclusion and promote economic growth.
After extensive background analysis, members of the Bank’s staff, the MPC and the Governing Committee work together over a 9-day period towards making a monetary policy decision and publishing a Statement (figure 1).