Question :
The Monetary and Credit Policy is announced by which of the following?
Option 1:
Ministry of Finance in Center
Option 2:
Reserve Bank of India
Option 3: State Bank of India
Option 4: Planning Commission of India
Correct Answer:
Reserve Bank of India
Solution : The correct option is Reserve Bank of India.
The Reserve Bank of India (RBI) announces the Monetary and Credit Policy. The RBI uses it as a key policy instrument to control the money supply and credit availability in the economy. Inflation control, fostering economic growth, and preserving financial system stability are the major goals of monetary and credit policy. It describes numerous tools used to affect the money supply and credit conditions in the economy, such as the repo rate, reverse repo rate, cash reserve ratio (CRR), statutory liquidity ratio (SLR), and other policy instruments.
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