For a discussion on the concept, see Box A in Wakefield M, L Delaney and R Finlay (2019), ‘A Cost-benefit Analysis of Polymer Banknotes’, RBA Bulletin, December. [4]  The remuneration rate for ES balances was reduced to 10 basis points below the cash rate target at the November 2020 Board meeting.
Recently, we constituted a committee under the chairmanship of Vijaya Bhaskar, one of our Executive Directors, to comprehensively study the process of computation and  6  BIS central bankers’ speeches  dissemination of major financial benchmarks in India with a view to assessing the integrity of the process and the governance standards in the institution responsible for the benchmark.