This is our paradigm for the conduct of monetary policy, and we have been so transparent about it that we have devoted entire speeches and published a great deal of staff research on the topic. We do this so that a careful observer can understand just how monetary policy will adjust to changing circumstances.
It is indeed a great pleasure for me to share my views on this subject. 3. The RBI’s financial inclusion efforts can be traced back to the 1960s when the focus was on channelizing of credit to the neglected sectors of the economy and weaker sections of the population.