Monetary policy objective: maintain price stability while considering growth; framework to be operated by the Reserve Bank. The amendment replaces specified Preamble paragraphs in the Reserve Bank of India Act, 1934 to state that a modern monetary policy framework is essential, that the primary objective of monetary policy is to maintain price stability while keeping in mind the objective of growth, and that the monetary policy framework in India shall be operated by the Reserve Bank of India.
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Provisions expressly mentioned in the judgment/order text.
Monetary policy objective: maintain price stability while considering growth; framework to be operated by the Reserve Bank.
The amendment replaces specified Preamble paragraphs in the Reserve Bank of India Act, 1934 to state that a modern monetary policy framework is essential, that the primary objective of monetary policy is to maintain price stability while keeping in mind the objective of growth, and that the monetary policy framework in India shall be operated by the Reserve Bank of India.
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