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Meaning of Central Bank A central bank is the primary financial institution of a country responsible for managing the nation’s monetary policy and regulating its banking system. Unlike commercial banks, a central bank has the exclusive authority to expand the nation’s monetary base. Central banks worldwide are tasked with ensuring the stability of the financial …
Read MoreWhy in the news? RBI Deputy Governor stresses on maintaining restrictive monetary policy due to persisting inflation risks and uncertain economic conditions. About the Importance of Price Stability: RBI Deputy Governor Michael Deba- brata Patra underscores the need to restore price stability for sustaining the economy’s growth trajectory. He highlights that the current economic conditions …
Read MoreSyllabus: GS-3- Indian economy , RBI and the functioning of RBI Focus : The RBI’s Monetary Policy Committee (MPC) has chosen to maintain the benchmark policy repo rate at 6.5%. This decision marks the seventh consecutive meeting where the rate remains unchanged. Source- RBI RBI’s Monetary Policy Decision: The above decision was supported by food …
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