Jump to ContentJump to Main Navigation
Rethinking Public Institutions in India$
Users without a subscription are not able to see the full content.

Devesh Kapur, Pratap Bhanu Mehta, and Milan Vaishnav

Print publication date: 2017

Print ISBN-13: 9780199474370

Published to Oxford Scholarship Online: May 2017

DOI: 10.1093/oso/9780199474370.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 05 June 2020

Reserve Bank of India

Reserve Bank of India

The Way Forward

Chapter:
(p.139) 4 Reserve Bank of India
Source:
Rethinking Public Institutions in India
Author(s):

Errol D’Souza

Publisher:
Oxford University Press
DOI:10.1093/oso/9780199474370.003.0005

The RBI was set up to conduct monetary policy, manage public debt and foreign exchange reserves, act as the government’s banker, and support the development of markets and financial institutions. This chapter reviews how the institution has fared on these various dimensions. It begins by examining the appointment process for the Governor and the monetary policy committee. Next, it assesses the importance of an independent debt management agency and consistency between debt management and monetary policy. The connection between monetary policy and macroprudential policy is discussed next. Large foreign exchange reserves may be viewed by government at some time as a source for a national investment fund. This requires the RBI to engage with government and to define the objective of reserves management. The RBI’s actions to improve the resilience of financial markets and its involvement with social and distributional goals of directing credit towards priority activities are also evaluated.

Keywords:   RBI, central bank, monetary policy committee, debt management, foreign exchange reserves, macroprudential policy, financial stability, development banking, inflation targeting, macroeconomic policy coordination, organization and staffing of central banks

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .