Who controls monetary policy?

The Reserve Bank of India (RBI) controls the monetary policy. The Monetary Policy Committee (MPC) is assisted by the Monetary Policy Department of the Reserve Bank of India in formulating the monetary policy. You can read about the Monetary Policy – Objectives, Role, Instruments  in the given link.

The main objective of monetary policy is to maintain price stability which is essential for sustaining economic growth. The monetary policy is implemented using several indirect and direct instruments.

Further readings:

  1. Monetary Policy Committee (MPC) – Structure, Objectives UPSC Notes
  2. Monetary System – Types of Monetary System 

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