4 The time frame in the new language was intended to cover a period extending beyond the next FOMC meeting and was meant to give an indication of the likely direction of future policy decisions based on the Committee's assessment of the economic outlook.
Role of the RBI  We, at the RBI, actively encourage these initiatives and one of the main reasons for my coming here to launch the trust is to demonstrate our commitment to this cause. RBI has completed 75 years and in our platinum jubilee year, we are making concerted efforts to expand the reach of formal finance through outreach initiatives.