In addition, the fact that the gray market exists and is developing shows to a certain extent that it is necessary. However, there are also problems and failures in how this market has developed in Israel. The main problem in the gray market begins with the lack of regulation and supervision over activity in this market.
The process of monetary policy formulation in India had traditionally been largely internal with only the end-product of actions being made public. The process has, over time, become more consultative and participative with an external orientation.