Inflation target defined alongside Consumer Price Index and Monetary Policy Committee to guide monetary policy through Policy Rate. The amendment adds precise definitions to the Reserve Bank of India Act: Consumer Price Index as the Consumer Price Index Combined; inflation as year wise change in the monthly CPI in percentage; inflation target as determined under the specified provision; Monetary Policy Committee as the constituted committee; and Policy Rate as the rate for repo transactions under the designated subsection, thereby tying statutory terms to the inflation targeting framework and its implementation instrument.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Inflation target defined alongside Consumer Price Index and Monetary Policy Committee to guide monetary policy through Policy Rate.
The amendment adds precise definitions to the Reserve Bank of India Act: Consumer Price Index as the Consumer Price Index Combined; inflation as year wise change in the monthly CPI in percentage; inflation target as determined under the specified provision; Monetary Policy Committee as the constituted committee; and Policy Rate as the rate for repo transactions under the designated subsection, thereby tying statutory terms to the inflation targeting framework and its implementation instrument.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
AI OCR ✕
of 
TaxTMI 
TaxTMI 
