Let me highlight the major elements of this approach and our future path in five specific areas. I. Monetary Policy Framework and Price Stability 6. Over the last three years, we have utilised the flexibility in the monetary policy framework to calibrate our actions to counter the adverse effects of COVID-19 and other international factors like the war in Ukraine.
Notwithstanding this experience, RBI has already issued guidelines for futures contracts on 91-day T-Bills, which are expected to be introduced shortly. We are also considering introduction of IRF contracts on 2 year and 5 year G-Secs to provide the products at the shorter end which would offer flexible hedging options to the market participants.