Introduction of holding company structure for financial conglomerates in India  At present, most of the financial groups in India are led by banks and organised under the Bank Subsidiary model. This model puts the onus on the parent bank for corporate governance, performance and capital requirement of the subsidiaries. Besides, the parent carries very substantial reputational risk.
For the second part of the CME, the Bank clarified its policy duration commitment: the Bank will continue its VZIRP until it judges price stability to be in sight on the basis of the Policy Board members’ understanding of price stability. With Policy Board members’ announced forecasts for two years ahead, this is similar to “forecast targeting” though not specific in numbers.