Currently, inflation below 2 percent is judged to be just as bad as inflation above 2 percent. If actual inflation becomes more than 3 percent or less than 1 percent, the Governor of the BOE must write an open letter to the Chancellor, explaining the reasons for such a deviation and prescriptions for correcting it.
Annual review meetings are being held with CMDs of banks to ensure top management support and commitment to the FI process.   In the Annual Policy Statement for 2013–14, banks have been advised to consider frontloading (prioritizing) the opening of branches in unbanked rural centres over a three year cycle co-terminus with their FIPs.