Who introduced monetary policy in India?

As per the Reserve Bank of India Act,1934, the responsibility of monetary policy in India was given to the Reserve Bank of India (RBI). The Monetary Policy Committee (MPC) will play a vital role in framing the monetary policy. You can read about The Reserve Bank of India: Functions and Composition in the given link.

Once in every 6 months, a monetary policy report is published by the RBI explaining the forecasting of inflation for 6-18 months ahead and also explains the sources of inflation.

Further readings:

  1. Non Performing Assets (NPA) – Facts for UPSC GS-III
  2. Monetary Policy – Objectives, Roles and Instruments

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